SJVN Secures 100 MW Solar Project at Raghanesda Solar Park

• SJVN Ltd has announced that it has actually nabbed a 100 MW solar PV power project in the Raghanesda Solar Park and also will certainly quickly start work on the Rs 490 crore project.

SJVN Ltd has introduced that it has landed a 100 MW solar PV power project in the Raghanesda Solar Park in Gujarat. The firm had actually joined an open bidding procedure for part of Raghanesda Solar Park, Gujarat as well as landed the priced quote capability of 100 MW at the rate of Rs 2.73/ device on develop own and run (BOO) basis.

Revealing the project win in a governing declaring, the company specified that the tentative cost of construction/ growth of this project is Rs 490 crore.

Further adding that "the project is expected to generate 252 MU (millions of devices) in the 1st year and the project collective power generation over a period of 25 years would certainly be about 6300 MU."

Presently, the primarily hydro power concentrated company has actually an overall set up capacity of 2015.2 MW which includes 2 hydro power plants of 1,912 MW capacity as well as a further 3 eco-friendly nuclear power plant of 103.2 MW capacity, one of which is a solar plant of 5.6 MW and the various other two are wind plants worth 97.6 MW.

"With this slice of 100 MW, SJVN now has 200 MW of solar projects under implementation. Both these solar plants are expected to be appointed by March 2022, which shall be a substantial leap in SJVN's sustainable ability," the business specified.

The other solar plant of 100 MW capacity that the company discussed is the one it is creating at the Dholera Solar Park (likewise in Gujarat) at an investment of Rs 450 crore. SJVN was awarded 100 MW capacity in a Gujarat Urja Vikas Nigam Ltd (GUVNL) public auction after submitting a bid for Rs 2.80 each. And will certainly now create the project on a build-own-and-operate basis.

SJVN Chairman and also Managing Director Nand Lal Sharma had actually confirmed that the tentative expense of the project is Rs 450 crore and that the project is expected to generate 244 million devices in a year. The power acquisition contract will be signed for 25 years.

Days later, the company had actually provided an Expression of Interest (EoI) inviting qualified funding establishments to send propositions for providing financial debt financing car loans to the Government of India and Government of Himachal Pradesh JV for its upcoming renewable energy projects (mainly solar). The CPSU claimed that it is eager to take up new projects in order to enhance capacity through organic in addition to not natural means by acquiring economically viable stressed out assets and new renewable projects which will enter into generation/ procedure within 12 months.

As per SJVN, the total cost of the project will certainly be around Rs 1250 crore. As well as 80 percent of the expense (Rs 1000 crore) of the project will certainly be prepared via debt financing. As per the terms of the EOI, the overall period of the financings will be 16 years, with the very first year being the postponement duration, and afterwards a 15 year settlement period.