SJVN Green Energy Limited (SGEL), a subsidiary of SJVN Limited, has secured Omkareshwar floating solar project with a capacity of 90 MW at a tariff of Rs 3.79 per kWh. The project will be situated in Madhya Pradesh and will be developed on the basis of build, own, operate model. The project has been won under tariff-based competitive bidding process followed by e-reverse auction. The tender was issued by Rewa Ultra Mega Solar Limited (RUMSL).
The company will enter into power purchase agreement (PPA) with RUMSL and Madhya Pradesh Power Management Company Limited after receiving letter of award. The estimated cost of the project is Rs 6.1 billion. The project is anticipated to produce 203 million units in its first year of operation and around 4,781 million units over a period of 25 years. The project will be commissioned within 21 months from the date of signing of PPA.
Recently, in August 2023, SGEL floated bids for 200 MW grid-connected solar power project. The winning bidder will be responsible for three years operations and maintenance (O&M) and delivery of balance of system package. The project will be located at Khavda Solar Park, Gujarat.
In the same month, results were announced for RUMSL’s auction to develop 300 MW, Phase II floating solar park at Omkareshwar reservoir, Madhya Pradesh. NTPC Renewable Energy Limited (NTPC REL), Hinduja Renewables Energy, and SGEL emerged as winners in the auction.
