SJVN on Friday, February 23, said its wholly-owned subsidiary has commissioned and achieved the commercial operation date (COD) of its Gujrai solar power project located in Kanpur, Uttar Pradesh.
The state-owned company informed the bourses that its wholly-owned subsidiary SJVN Green Energy Ltd (SGEL) has commissioned and achieved COD of its 50 MW Gujrai solar power project.
The company has won the aforementioned solar power project of 50 MW capacity at a tariff of ₹2.98 per unit through a competitive tariff bidding that was conducted by Uttar Pradesh New and Renewable Development Agency (UPNEDA), SJVN Ltd said in a filing to the stock exchanges.
The project cost or the development cost of the solar power plant stands at ₹281 crore, and a Power Purchase Agreement (PPA) for the same has been signed between SJVN Green Energy and Uttar Pradesh Power Corporation Limited (UPPCL) for 25 years.
SJVN said that the solar project will be able to generate 107 million units (MUs) in its first year, with an estimated cumulative energy generation of around 2,477 MUs over a period of 25 years.
“The company is on rapid progression to achieve its Shared Vision of 25,000 MW by 2030 & 50,000 MW by 2040. This Shared Vision has been formulated in sync with the commitment of the Government of India of generating 50% energy from non-fossil fuel-based energy resources by 2030,” SJVN said in a filing to the stock exchanges on February 23, 2024.
The company’s shares traded 0.99% lower at ₹120.35 per piece on BSE at 1:39 pm on Friday.
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