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SJVN Green Energy Achieves Financial Closure for 1,000 MW Solar Project in Rajasthan

Satluj Jal Vidyut Nigam’s (SJVN) wholly-owned subsidiary SJVN Green Energy Ltd. (SGEL), has achieved financial closure for its 1,000 MW solar project in Bikaner, Rajasthan. This project will be developed at a total cost of Rs. 5,723.59 crore.

SGEL’s project will be financed in a debt-equity ratio of 80:20. Indian Renewable Energy Development Agency (IREDA) will be providing the debt component for this project, which is Rs. 4,444.71 crore, including a bridge loan of Rs. 223.60 crore. Additionally, Government of India will be provided Viability Gap Funding (VGF) of Rs. 447.20 crore for the project.

Tata Power Solar Systems Ltd. has been awarded the EPC contract for this project, and it is expected to be commissioned by January 2024.