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SJVN gets floating solar project worth Rs 585 cr in Omkareshwar

New Delhi, May 7 (PTI) Public Sector Undertaking SJVN Limited has bagged the contract for a 90 MW capacity floating solar project at Omkareshwar in Madhya Pradesh at a cost of Rs 585 crore.

Nand Lal Sharma, Chairman and Managing Director, SJVN said in a statement that SJVN in a tender floated by REWA Ultra Mega Solar Limited (RUMSL) on ‘Build, Own and Operate’ model has offered 90 units at the rate of Rs.3.26 per unit. MW capacity floating solar project has been achieved.

SJVN will develop this project into the country’s largest floating solar park at Omkareshwar in Khandwa district of Madhya Pradesh. It will cost around Rs 585 crore to develop this project.

The project will generate 219 million units in its first year of operation and 5158 million units over a period of 25 years.

The power purchase agreement will be signed between RUMSL and SJVN for 25 years. The project will be commissioned within a period of 15 months from the date of signing of this purchase agreement.

Sharma said, “This is our largest floating solar project achieved through a fee-based competitive bidding process. The commissioning of this project is expected to reduce carbon emissions by 2,52,737 tonnes. SJVN is actively contributing towards transforming India into a Net-Zero Carbon Emission Nation by the year 2070.

With its total portfolio of 31,000 MW, SJVN now has 19 solar power projects with a capacity of about 3.3 GW either in operation or in various stages of development.

With the addition of new projects, the company is poised to realize its shared vision of 5,000 MW installed capacity by 2023, 25,000 MW by 2030 and 50,000 MW by 2040.


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