SJVN secures 90MW floating solar project

It is expected to be commissioned within 15 months after the signing of a PPA.

India’s Satluj Jal Vidyut Nigam (SJVN) has bagged a 90-megawatt floating solar project worth around $75.5m (R585 crore) at Omkareshwar in District Khandwa, Madya Pradesh, the largest floating solar project in the area.

In a statement, SJVN Chairman and Managing Director Nand Lal Sharma said the project was secured at $0.042 (R3.26) per unit on a build own and operate basis in a tender floated by the REWA Ultra Mega Solar Limited (RUMSL).

“This is our largest Floating Solar Project bagged through Tariff Based Competitive Bidding process. The commissioning of this Project is expected to reduce 2,52,737 Tonnes of carbon emission. SJVN is actively contributing in turning India into net-zero carbon emission nation by 2070,” Sharma said.

After commissioning, the floating solar project is expected to generate 2019 million units in the first year and 5158 million units over a period of 25 years.

A Power Purchase Agreement  (PPA) will be signed between RUMSL & SJVN for 25 years, and the project will be commissioned within 15 months from the date of signing of the PPA.

SJVN has a total portfolio of 31,000MW, and 19 solar power projects of around 3.3-gigawatts capacity under operation and different stages of development.

$1 = R77.50