SJVN wins 1GW solar power project in India from IREDA

Satluj Jal Vidyut Nigam Limited (SJVN), an Indian government-owned hydroelectric power generation and transmission company, said that it has bagged rights to construct a 1GW solar power project.

The grid-connected solar power project, which is estimated to cost INR 5,500 crores, was won via a request for proposal (RFP) issued by Indian Renewable Energy Development Agency (IREDA). Its location has not been disclosed.

SJVN has bagged the full quoted capacity at a viability gap funding (VGF) support of INR 44.72 lakh per MW by the Indian government. It was won during the auction for grid-connected solar projects (Tranche-III) with a total capacity of 5GW capacity under the Central Public Sector Undertaking (CPSU) Program (Phase-II).

SJVN wins 1GW solar power project in India from IREDA. Photo courtesy of torstensimon from Pixabay.

The company said that the 1GW solar power project in India is likely to produce 2365 MU in the first year of operations. Its cumulative energy generation will be nearly 55,062 MU over a period of 25 years.

SJVN stated: “These projects will assist SJVN in achieving its ambitious shared vision of 5000 MW by 2023, 12000 MW by 2030 and 25000 MW by 2040 and simultaneously contribute towards RE capacity addition target of 175 GW by 2022 set by Government of India.”