SJVN Ltd, a state-owned company, has been awarded a Rs 585 crore floating solar project in Omkareshwar, Madhya Pradesh. In a tender filed by REWA Ultra Mega Solar Ltd (RUMSL), SJVN was awarded a 90 MW Floating Solar Project at a rate of Rs 3.26/Unit on a Build Own and Operate basis, according to Nand Lal Sharma, Chairman and Managing Director of SJVN.
SJVN will build this project in Omkareshwar, Madhya Pradesh’s Khandwa District, which is home to the country’s largest floating solar park.
The estimated cost of developing this project is Rs 585 crore, according to the release.
The project will generate 219 million units in the first year after commissioning and 5,158 million units during a 25-year timeframe.
For the next 25 years, RUMSL and SJVN will sign a Power Purchase Agreement.
The project must be completed within 15 months after the PPA’s signing.
“This is the largest floating solar project we’ve ever secured through a tariff-based competitive bidding procedure. The completion of this project is estimated to cut carbon emissions by 2,52,737 tonnes. SJVN is actively helping to India’s goal of being a carbon-free nation by 2070 “Sharma explained.
SJVN now has 19 solar power projects with a combined capacity of roughly 3.3 GW in operation or in various stages of development, with a total portfolio of 31,000MW.
These recent project additions are helping the company achieve its shared ambition of 5,000 MW installed capacity by 2023, 25,000 MW by 2030, and 50,000 MW by 2040. KKS DRR PTI.
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Resource: Business Standard
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