India’s SJVN secures 100 MW of PV for $0.031/kWh
SJVN, an Indian government-owned power generation company, has won a 100 MW solar project in the Indian state of Gujarat through a reverse auction held by GUVNL. The company secured the project by quoting a winning tariff of INR 2.54 ($0.031)/kWh.
SJVN will develop the project on a build-own-operate basis through its wholly-owned subsidiary SJVN Green Energy Ltd (SGEL). The project cost is estimated at INR 550 crore.
SGEL will execute the project in a solar park being developed by Gujarat Industrial Power Corp. in Khavda, Gujarat, through an engineering, procurement, and construction contract. GUVNL will buy the power under a 25-year power purchase agreement.
“The project is expected to generate about 252 million units in its first year of commissioning and the cumulative energy generation over a period of 25 years would be about 5,866 million units,” said SJVN. “The commissioning of this solar project is anticipated to reduce 2,87,463 tons of carbon emissions.”
