Satluj Jal Vidyut Nigam (SJVN) has bagged a 1,000 MW grid-connected solar power project through a request for proposal (RFP) floated by Indian Renewable Energy Development Agency Ltd (IREDA).
SJVN chairman and managing director Nand Lal Sharma said the company bagged the project through an open competitive bidding process for quoted capacity of 1,000 MW at the maximum tariff of Rs 2.45 per unit.
“SJVN bagged the full quoted capacity of 1,000 MW at a viability gap funding (VGF) support of Rs 44.72 lakh per MW by Union government.
The power generated from the above projects shall be solely for self-use or use by government or government entities either directly or through DISCOMS.
SJVN participated in a VGF based competitive Bidding Process for a solar project of capacity 5,000 MW floated by IREDA,” he added.
He stated that the tentative cost of construction and development of this project was Rs 5,500 crore and it is expected to generate 2,365 million units (MU) in the first year.
The project cumulative energy generation over a period of 25 years would be about 55062 MU.
Presently, SJVN has a total installed capacity of 2016.5 MW which includes 2 hydropower plants of 1,912 MW and 4 renewable power plants of 104.5 MW (2 solar plants of 6.9 MW and 2 wind plants of 97.6 MW).
Earlier, SJVN had bagged three solar power projects totalling 345 MW in the states of Gujarat, Uttar Pradesh and Bihar and all these projects had also been bagged through open competitive bidding.