State-owned power company SJVN has said it secured 100 MW Grid Connected Solar Power Project in Gujarat
SHIMLA, Mar 17 (The CONNECT) – State-owned power company SJVN has said it secured 100 MW Grid Connected Solar Power Project in Gujarat through tariff-based competitive bidding conducted by Gujarat Urja Vikas Nigam Limited (GUVNL). Nand Lal Sharma, Chairman & Managing Director of SVJN said the project will generate 245.28 Million Units energy annually and the cumulative energy generation over a period of 25 years will be approximately 6132 Million Units. The energy generated from this Project will be procured by GUVNL for 25 years and Power Purchase Agreement between SJVN and GUVNL will be signed shortly. The tentative cost of Project development is about Rs.500 crores.
“The addition of this Solar Project along with multiple projects obtained by the Company recently will contribute in India’s goal to build the green energy economy and boost the nation’s renewable energy potential,” Sharma said.
In the backdrop of Prime Minister Narendra Modi’s commitment to generate 500 GW Energy from non-fossil sources by 2030, the Centre is focusing on the development of renewable sources. SJVN is adding significant capacities in its portfolio to pursue this vision. At present, the company has twelve Solar Power Projects of 3065 MW capacity under various stages of development with a total portfolio of more than 16900 MW.
This gigantic portfolio expansion has led to SJVN’s New Shared Vision - 5000 MW by 2023, 25000 MW by 2030 & 50000 MW installed capacity by 2040. The Company is striding ahead to achieve its Shared Vision and to be partner in the sustainable development of the Nation.