India's SJVN gets to fin close for 70-MW solar project in Gujarat

• Indian power producer SJVN Ltd (BOM:533206) introduced today it has actually achieved financial close for a 70-MW solar project in the state of Gujarat.

The business claimed it is alloting INR 2.67 billion (USD 34.6 m/EUR 32.8 m) of debt from its existing international currency term finance. The Bagodara project's overall financial investment demand totals up to INR 3.34 billion.

Building job has currently been initiated and is anticipated to be finished later this year, causing the beginning of power generation in October. The project was awarded to the company by Gujarat Urja Vikas Nigam Limited (GUVNL) at a tariff of INR 2.21 per kWh.

SJVN targets having 5 GW of installed capacity by 2023, 25 GW by 2030 as well as 50 GW by 2040.