SJVN's 1000 MW solar project in Bikaner, Rajasthan under CPSU Scheme

5 May 2022 , 10:33 AM

SJVN Ltd had participated in the tender floated by Indian Renewable Energy Development Agency Limited (“IREDA”) under the CPSU Scheme for development of Grid connected Solar PV Power Project for a capacity of 1000 MW through competitive Bidding Process based on VGF support. The Company bagged the full quoted capacity of 1000 MW and was issued Letter of Award (“LOA”) dated October 04, 2021 from IREDA.

The Company issued the Letter of Award for EPC Contract to Tata Power Solar Systems Limited on May 04, 2022 for the development of 1000 MW (AC) of Ground mounted Solar Project in Bikaner, Rajasthan. The scope includes end to end delivery of the commissioned Solar Plant to SJVN including arrangement of land on outright purchase basis, power evacuation system up to the ISTS Sub Station and Operation and Maintenance of the Solar PV Plant for 3 years.

The composite cost for Construction / Development of cumulative 1000 MW (AC) projects is Rs5,491.89 crores and the project is expected to generate 2454.55 MU’s in the 1st year and on cumulative basis approximately 56838.32 MU’s would be generated over a period of 25 years.

Further, the Project is slated to be completed in 24 months from the issuance of EPC Contract i.e by May 2024. The LOA awarded to Tata Power Solar Systems Limited is the India’s largest Solar EPC Project of 1 GW for a value Rs5,491.89 crores. The commissioning of this Project is expected to reduce 27,85,077,680 kg of carbon emissions in 25 years.

This project will assist SJVN in achieving its ambitious shared vision of 5000 MW by 2023, 25000 MW by 2030 and 50000 MW by 2040 and simultaneously contribute towards RE capacity addition target of 500 GW by 2030 set by Government of India, said company.

At around 10:37 AM, SJVN was trading at Rs28.40 apiece up by Rs0.35 or 1.25% on the BSE.