Floating solar project in Maharashtra: SJVN bags 105 MW worth Rs 730 crore

State-owned SJVN on Wednesday announced that it has won a 105-MW floating solar project worth Rs 730 crore in a e-reverse auction of Maharashtra State Power Generation Company (MAHAGENCO).

Nand Lal Sharma, Chairman & Managing Director, SJVN, informed in a statement that SJVN has obtained a 105-MW floating solar project through e-reverse auction held by MAHAGENCO.

Sharma stated that SJVN bagged the project at Rs 3.93 per unit on Build, Own and Operate basis in tariff based competitive bidding process of MAHAGENCO.

He said that the tentative cost for development of this project will be Rs 730 crore.

The project will be commissioned within 15 months from the date of signing of the Power Purchase Agreement which shall be signed between SJVN & MAHAGENCO shortly.

He said, "After commissioning, the project will generate 230 million unit in first year and 5,420 million unit over a period of 25 years. The commissioning of this project is expected to reduce 2,65,602 tonnes of carbon emission.

SJVN is actively contributing in efforts of government of India for achieving net zero carbon emission by 2070."

He said that the SJVN is on a rapid expansion and capacity addition journey.

Present portfolio of the company is more than 42,000 MW and the company is marching forward tirelessly to achieve its shared vision of 5,000 MW by 2023, 25,000 MW by 2030 & 50,000 MW installed capacity by 2040.