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Tuesday, June 25, 2024

A letter of intent for a 500 MW solar project is received by SJVN from GUVNL

<p>The renewable division of SJVN, SJVN Green Energy Limited (SGEL), a fully owned subsidiary, said on Wednesday that it has obtained the Letter of Intent (LOI) for the 500 MW Solar Project in Gujarat Urja Vikas Nigam Limited (GUVNL) in GUVNL Phase -XXI from GUVNL.</p>
<p><img decoding=”async” class=”alignnone wp-image-505307″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-a-letter-of-intent-for-a-500-mw-solar-project-is-received-by-sjvn-from-guvnl-solar-750×422.jpg” alt=”theindiaprint.com a letter of intent for a 500 mw solar project is received by sjvn from guvnl solar” width=”999″ height=”563″ title=”A letter of intent for a 500 MW solar project is received by SJVN from GUVNL 9″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-a-letter-of-intent-for-a-500-mw-solar-project-is-received-by-sjvn-from-guvnl-solar-750×422.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-a-letter-of-intent-for-a-500-mw-solar-project-is-received-by-sjvn-from-guvnl-solar-768×432.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-a-letter-of-intent-for-a-500-mw-solar-project-is-received-by-sjvn-from-guvnl-solar-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-a-letter-of-intent-for-a-500-mw-solar-project-is-received-by-sjvn-from-guvnl-solar.jpg 1024w” sizes=”(max-width: 999px) 100vw, 999px” /></p>
<p>The 500 MW (100 MW + 400 MW Green Shoe) Project was previously awarded to SJVN Green Energy Limited through tariff-based competitive bidding at a tariff of Rs 2.54 / Unit on Build Own and Operate (BOO) basis on e-RA, according to Geeta Kapur, Chairman & Managing Director, SJVN. GUVNL conducted the bidding on January 25, 2024.</p>
<p>Geeta Kapur went on to say that the project’s estimated development and construction costs total Rs. 2700 crore. The project will be constructed in Khavda’s GIPCL Solar Park. The Greenshoe option is a process wherein the implementing agencies provide the winning bidder with extra capacity on the same RfS terms and conditions.</p>
<p>Following GERC’s tariff acceptance, the power purchase agreement with GUVNL will be completed, the business said in a regulatory filing. The project must be completed within 18 months of the PPA’s signing date, or by November 2025.</p>
<p>It is anticipated that the project would produce 1271.07 million units in the first year after commissioning, with a projected total energy output of around 29245.40 million units during a 25-year period. The project’s commissioning is anticipated to result in a reduction of 14,33,025 tons of carbon emissions, so supporting the Government of India’s effort to decrease carbon emissions.</p>
<p>The firm is moving quickly toward realizing its common goals, which include reaching 25,000 MW by 2030 and 50,000 MW by 2040. This common goal has been developed in accordance with the Indian government’s pledge to produce 50% of its energy by 2030 from sources other than fossil fuels.</p>

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