SJVN secures 1,000 MW solar energy project


Shimla, September 24: SJVN, the large public sector hydroelectric company, has been awarded a 1,000 MW grid-connected solar photovoltaic project awarded by the Indian Renewable Energy Development Agency (IREDA), said on Friday its chairman and managing director Nand Lal Sharma.

He said the company secured the project through an open bidding process for a capacity of 1,000 MW at the maximum rate of Rs 2.45 per unit.

The company has secured the total stated capacity of 1,000 MW with Sustainability Gap Funding (VGF) support of Rs 44.72 lakh per MW by the Center.

Electricity generated by the projects will only be for self-use or for use by government or government entities, either directly or through dcoms.

Sharma said the interim cost of the project is Rs 5,500 crore. The project is expected to generate 2,365 million units in the first year and the cumulative energy production of the project over 25 years would be approximately 55,062 million units.

Currently, SJVN has a total installed capacity of 2,016.5 MW, which includes two hydroelectric plants of 1,912 MW and four renewable plants of 104.5 MW.

Previously, SJVN had acquired three solar projects totaling 345 MW in Gujarat, Uttar Pradesh and Bihar.

(IANS / 19 hours ago)

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