SJVN signs 612.71 crore Contract for 100 MW Raghanesda Solar Project
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Shimla: Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN today informed that the company has entered into an Engineering Procurement & Construction contract for 100 MW Solar Power Project at Raghanesda in Gujarat with M/s Tata Power Solar Systems Limited. This Rs 612.71 crores contract includes end to end delivery of the commissioned solar plant to SJVN including comprehensive operation and maintenance of the plant for three years.
Sh. Nand Lal Sharma further informed that SJVN had secured this project at a tariff of Rs 2.64 @ unit through tariff based competitive bidding conducted by Gujarat Urja Vikas Nigam Limited (GUVNL). The project is scheduled to be commissioned in the year 2023 and will generate 252 MU energy annually with Capacity Utilization Factor of 28.8%. Power generated from this project will be procured by GUVNL for 25 years for which the PPA has been signed on 3rd January 2022.
The contract agreement was signed by Executive Director (Electrical Contracts) SJVN, Sh. Salil Shamshery and Chief (Business Development) of M/s Tata Power Solar Systems Limited Sh. Vepul Jain. On this occasion, senior officials from SJVN and M/s Tata Power Solar Systems Limited were also present.
Presently, SJVN has a portfolio of around 42,000 MW with key focus on developing renewable projects. SJVN has recently signed an MoU with Rajasthan government for developing 10,000 MW solar parks/projects in the state. In addition, SJVN has also expressed keen interest in developing 5000 MW solar projects in the state of Punjab. With these recent developments, SJVN is on the path to achieve its Shared Vision of 5000 MW by 2023, 25000 MW by 2030 & 50000 MW installed capacity by 2040.