SJVN Green, Coal India, SAEL Awarded GUVNL 600 MW Solar Project

SJVN Green, Coal India, SAEL Win 600 MW GUVNL Solar Project

By Akash Dhiman/ Updated On Tue, Jan 30th, 2024

Highlights :

SJVN has been awarded 100 MW, Coal India has got 300 MW, and SAEL has been awarded 200 MW.
The tender for this project was issued by GUVNL in July 2023.

SJVN Green, Coal India, SAEL Win 600 MW GUVNL Solar Project

SJVN Green, Coal India, SAEL Awarded GUVNL's 600 MW Solar Project . Photo: Pexels

SJVN Green, Coal India, and SAEL Industries have been awarded the 600 MW solar power project which will be set up at Gujarat Industries Power Company in Khavda. These companies were declared winners by Gujarat Urja Vikas Nigam Ltd (GUVNL) in the auction related to the project. Further, the project will also have a greenshoe option of an additional 600 MW. The tender for this project was issued by GUVNL in July 2023.

SJVN has been awarded 100 MW, Coal India has got 300 MW, and SAEL has been awarded 200 MW. SJVN will develop the projects through its subsidiary SJVN Green Energy Limited (SGEL) for Rs 550 crore. As per a report, the winners are needed to sign the Power Purchase Agreement (PPA) with GUVNL within 60 days. The developers will be responsible for connecting the plant 220kV/400kV/756kV substation through the 33/400kV internal polling substation to be built by the developers at the solar park.

The 100MW part project developed by SJVN is expected to generate around 252 million units during the first year of the operation while the energy generation over the course of 25 years is touted to be at around 5,866 million units. Following the bidding of the solar project, shares of SJVN Ltd. surged over 8 percent on Monday. The price of shares of SJVN increased to 8.16% to Rs 125.95 per share. This was the highest price of its shares since its listing in May 2010. With this addition, SJVN’s project portfolio stands at 59,872 MW.

The project further mandates that the solar modules to be used must be warranted for peak output wattage and must not be less than 90 percent after 10 years and 80 percent after the completion of 25 years. Overall the project will reduce 2,87,463 tonnes of carbon emissions. According to the statement, SJVN has secured the full quoted capacity of a 100 MW solar power project through an e-Reverse Auction conducted by GUVNL. For the project, SJVN quoted Rs 2.54/kWh, SAEL quoted Rs 2.55/kWh while Coal India quoted Rs 2.55/kWh.