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SJVN Green Energy Secures 1,100 Cr. Order for 200 MW Solar Project in Gujarat

SJVN Green Energy Ltd. (SGEL) a wholly-owned subsidiary of SJVN, has received a Letter of Intent (LoI) worth Rs. 1,100 crore from Gujarat Urja Vikas Nigam Ltd. (GUVNL) for developing a 200 MW ground-mounted solar power project. SGEL has secured this LoI by quoting a tariff rate of Rs. 2.63 per unit.

Initially, SGEL had secured the development rights for 100 MW solar power capacity. Thereafter, SGEL won the remaining 100 MW through greenshoe option*, bringing the total capacity to 200 MW. SJVN Green will develop the project on a Build Own and Operate (BOO) basis.

A Power Purchase Agreement (PPA) will be signed between SGEL and GUVNL for a period of 25 years. The project is expected to be commissioned within 18 months from the date of signing the PPA.

*Greenshoe option allows the developer to build and sell additional power capacity at same price as the original bid if demand exceeds expectations.