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State-owned SJVN Ltd has bagged a 200 MW solar project worth Rs 1,200 crore in an e-reverse auction by Maharashtra State Electricity Distribution Company Ltd (MSEDCL).
SJVN Chairman and Managing Director Nand Lal Sharma said in a statement that the company has secured a 200 MW solar power project through the e-reverse auction by MSEDCL.
SJVN has bagged the full quoted capacity of the 200 MW solar project at the rate of Rs 2.90 per unit on a build-own – and operate basis in the tariff-based competitive bidding process of the MSEDCL.
This ground-mounted solar project will be developed by SJVN anywhere in Maharashtra through EPC (engineering procurement construction) contract.
Sharma also said that the tentative cost for the development of this project is Rs 1,200 crore.
The project will be commissioned within 18 Months from the date of signing of the power purchase agreement, which will be signed between SJVN and MSEDCL shortly.
In a BSE filing, the company informed that the project is expected to generate 455.52 MUs (million units) in the 1st year and the cumulative energy generation for 25 years would be about 10,480.82 MU.
As per RfS (request for selection), the project will be commissioned in 18 months from the date of signing of PPA (power purchase agreement) i.e. by FY 2023-24. The PPA will be signed between MSEDCL and SJVN for 25 years, the filing stated.
The commissioning of this project is expected to reduce 5,13,560 tonnes of carbon emission, the company has said in the filing.
“Our vision is aligned with that of the government’s vision for a greener future and carbon neutral economy. With the allotment of this project, our solar & wind portfolio stands at 3946.5 MW out of which 104.5 MW is under operation, 1370 MW is under construction and 2472 MW is under various stages of implementation,” Sharma said in the statement.
SJVN is on an expansion and capacity addition journey. The company is marching forward with vigour to achieve its Shared Vision of 5,000 MW by 2023, 25,000 MW by 2030 and 50,000 MW installed capacity by 2040.