The state-owned SJVN will build a floating 90 MW solar project in Omkareshwar (Madhya Pradesh) at an investment of Rs. 650 crore.
The project is expected to be completed by December 2023.
Nand Lal Sharma, Chairman and Managing Director performed bhumi pujan on the Omkareshwar Reservoir project site to commence engineering, procurement and construction (EPC).
Sharma stated in a company statement that “The project was secured at a tariff rate of Rs 3.26 per unit for a build-own and operate model in a bidding procedure conducted by REWA Ultra Solar Limited (RUMSL).”
The project is expected to generate energy of 196 million units within the first year, and cumulative energy production of approximately 4,570 million units over a 25-year period, according to the statement.
SJVN stated that the commissioning will result in a reduction of carbon emissions to the tune 2,23,923 tons. This will make a significant contribution to India’s goal of net zero carbon emission by 2070.
SJVN Green Energy Limited, a wholly-owned subsidiary of SJVN, is developing the project.