SGEL Secures 200 MW Solar Project in GUVNL's Auction

The project, set to be developed in the 1,125 MW GSECL Solar Park at Khavda, Gujarat, will be instrumental in advancing the nation's green energy agenda.

March 04, 2024. By Abha Rustagi

SJVN Green Energy Limited (SGEL) has clinched victory in the recent tariff-based competitive bidding conducted by Gujarat Urja Vikas Nigam Limited (GUVNL). SGEL successfully secured a 200 MW capacity in the bidding.

The project, set to be developed in the 1,125 MW GSECL Solar Park at Khavda, Gujarat, will be instrumental in advancing the nation's green energy agenda. With a tariff of INR 2.66/Unit, SGEL bagged the full bid capacity of 200 MW.

Operating on a Build Own and Operate (BOO) basis, the project entails an estimated construction and development cost of approximately INR 1,100 Crore. Upon completion, it is projected to generate 504 Million Units (MU) of energy in its first year alone. Over its 25-year lifespan, the cumulative energy generation is forecasted to reach 11,732 MUs.

Aligned with the Renewable Energy Purchase Obligations (RPOs) and the Government of India's targets, the project aims to significantly reduce carbon emissions. It is anticipated that the commissioning of this solar power project will lead to the mitigation of 5,74,868 tonnes of carbon emissions, thereby contributing to the nation's commitment to combatting climate change.

The timeline for the project is set at 18 months from the date of signing the Power Purchase Agreement (PPA) between GUVNL and SGEL, ensuring swift progress towards its operationalization.

This initiative forms a crucial part of SGEL's overarching vision to achieve 25,000 MW by 2030 and 50,000 MW by 2040, in tandem with the Government of India's target of generating 50 percent of energy from non-fossil fuel-based resources by 2030.

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