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SJVN Ltd, a state-run company, has won a floating 90 MW solar project at Omkareshwar in Madhya Pradesh. The project is worth Rs 585 crore.
SJVN secured 90 MW Floating Solar Project at Rs 3.26/Unit in a tender by REWA Ultra Solar Ltd (RUMSL), Nand Sharma, Chairman & Managing director, SJVN, stated in a statement.
SJVN will be developing this project at Omkareshwar, Khandwa District in Madhya Pradesh.
The project will produce 219 million units in its first year, and 5,158 Million Units over the next 25 years.
For 25 years, the Power Purchase Agreement between RUMSL & SJVN will be signed.
The project must be completed within 15 months of the date of signing the PPA.
“This is the largest floating solar project that we have secured through a tariff-based competitive bidding process. This project will reduce carbon emissions by 2,52,737 tonnes. Sharma stated that SJVN actively contributes to India becoming a net-zero carbon emitting nation by 2070.”
With a total portfolio of 31,000MW, SJVN now has 19 solar power projects of around 3.3 GW capacity under operation and different stages of development.
This company is moving towards realizing its shared vision of 5,000 MW by 2023, 25,000 MW by 2030, and 50,000 MW of installed capacity by 2040.