Satluj Jal Vidyut Nigam (SJVN) has won an 83 MW floating solar project in Madhya Pradesh’s Omkareshwar through Tariff Based Competitive Bidding (TBCB). Estimated cost of developing this project is around Rs. 585 crore.
The company won this contract with a stated tariff of Rs. 3.70 per unit at REWA Ultra Mega Solar Ltd.’s (RUMSL) auction. This project will be developed at the Omkareshwar reservoir, where SJVN has already won another floating solar project. A Power Purchase Agreement (PPA) for 25 years will be signed between SJVN and RUMSL for this project which will produce about 4,410 Million Units during this period.
SJVN will be developing this project within 21 months from the date of signing the PPA.