India's SJVN bags 200-MW solar park deal from neighborhood utility

• The green energy arm of Indian state-owned power generator Satluj Jal Vidyut Nigam (SJVN) has been selected to construct a 200-MW solar park in behalf of regional power distribution utility Maharashtra State Electricity Distribution Company Ltd (MSEDCL).

SJVN stated in a bourse filing on Saturday that it will certainly install the capacity under the build-own-operate (BOO) model. The project will certainly call for a general financial investment of NR 12 billion (USD 146.8 m/EUR 139.3 m).

The solar (PV) park is anticipated to produce 455.5 million kWh of electricity in the initial year of procedure, countering more than 500,000 tonnes of carbon dioxide (CO2) emissions. Its specific area was not specified.

At present, SJVN has 4,320 MW of renewable resource properties in its portfolio, consisting of 179.5 MW in operation, 1,385 MW unfinished as well as 2,756 MW of projects under growth. The company's objective is to raise its mounted renewables capacity to 5,000 MW by 2023. In October, it signed a Memorandum of Understanding (MoU) with Assam Power Distribution Co Ltd (APDCL) to establish 1 GW of floating solar projects in India's northeastern state of Assam.