Indian Renewable Energy Development Agency Limited (IREDA) has signed a loan agreement for Rs 44.4471 billion with SJVN Green Energy Limited for a 1,000 MW solar power project at Bikaner, Rajasthan.
The IREDA funded project will connect to the Bikaner-II 400/220 kV substation. SJVN has bagged the project through the tender floated by IREDA under the CPSU Phase-II, Tranche III scheme for the development of grid-connected solar PV power projects through a competitive bidding process based on VGF support.
Recently in December 2022, SJVN Limited announced a joint venture with the Grid Corporation of Odisha (GRIDCO) to establish a 1,000 MW hydroelectric project and a 2,000 MW solar project worth Rs 200 billion. Both the companies have signed a Memorandum of Understanding in Bhubaneswar to form a joint venture company to develop hydro and solar projects.
Also, in November 2022, SJVN Limited commissioned a 75 MW solar power project at Parasan solar park in Uttar Pradesh. With this project achieving its commercial operation, the power producer’s installed generation capacity stands at 2,091.5 MW. The project has been developed at a cost of Rs 3.92 billion.