State-owned company SJVN Ltd has won a 200 MW solar project worth Rs 1,200 crore from Gujarat Urja Vikas Nigam Ltd (GUVNL). The project will be set up in Khavda Solar Park, Gujarat and will be developed on a Build Own and Operate (BOO) basis. The project is expected to generate 505 million units in the first year of commissioning and over 25 years, the cumulative energy generation will be around 11,756 million units. The commissioning of this project is expected to reduce carbon emissions by 5,76,067 tonnes.
Nand Lal Sharma, Chairman and Managing Director (CMD) of SJVN Ltd, said in a statement, “The company has obtained 200 MW Grid Connected Solar Power Project in Khavda Solar Park through e-Reverse auction conducted by GUVNL.” The project has been bagged at a tariff of Rs 2.88 per unit.
With the addition of this project, SJVN Ltd’s solar and wind portfolio stands at 17,620 MW, out of which 179.5 MW is under operation, and the rest is under various stages of implementation. SJVN Ltd is a joint venture between the government of India and the government of Himachal Pradesh. The company is primarily engaged in the business of generating hydroelectric power.
Gujarat has been promoting renewable energy with its ambitious solar energy policy, which aims to generate 8,000 MW of solar power by 2022. The state has been attracting investments in renewable energy projects due to its vast solar and wind potential. In recent years, it has emerged as a leading state in the country in terms of solar power capacity.
The Indian government is also pushing for increased use of renewable energy to reduce dependence on fossil fuels and achieve its target of installing 175 GW of renewable energy capacity by 2022. As of January 2021, India’s total installed renewable energy capacity was around 94 GW. The government has set a target of installing 450 GW of renewable energy capacity by 2030.