SJVN bags Rs 585 cr- floating solar project from REWA Ultra Mega Solar

7 May 2022 , 04:01 PM

The power purchase agreement shall be executed after issuance of Letter of Intent (LoI) from REWA Ultra Mega Solar (RUMSL). The floating solar project (FSP) project shall be developed by company at the Omkareshwar Reservoir, Madhya Pradesh through EPC contract. The tentative cost of construction of this project is Rs 585 crore. The project is expected to generate 218.54 MUs (million units) in the first year and the cumulative energy generation over a period of 25 years would be about 5,157.91 MUs. As per RfS, the project shall be commissioned within a period of 15 months from the date of signing of PPA i.e by December 2023. The PPA shall be signed between RUMSL and SJVN for 25 years. This is SJVNs second and first largest FSP bagged through tariff based competitive bidding process in Indias largest floating solar park at Omkareshwar in District Khandwa, Madhya Pradesh. The commissioning of this project is expected to reduce 2,52,737 tonnes of carbon emission and would contribute in Government of India (Gol) mission ofreduction in carbon emission. This project will also assist the company in achieving its target of 5,000 MW by 2023, 25,000 MW by 2030 and 50,000 MW by 2040 and simultaneously contribute towards RE capacity addition target of 500 GW by 2030 set by GoI. On a consolidated basis, net profit of SNJV declined 43.60% to 235.46 crore on a 11.19% increase in net sales to Rs 549.14 crore in Q3 FY22 over Q3 FY21. Shares of SJVN gained 1.43% to close at Rs 28.40 on BSE. SJVN is a hydroelectric power generation company. The company is the largest operational hydroelectric power generation facility in India based on installed capacity, with an aggregate generation capacity of 1,912 MW. Powered by Capital Market – Live News