In a significant development for the renewable energy sector, SJVN Green Energy Limited, a subsidiary of SJVN Limited, has clinched a monumental deal worth ₹2,700 Crore from Gujarat Urja Vikas Nigam Limited (GUVNL) for the establishment of a state-of-the-art 500 MW Solar Power Project. The project is part of GUVNL’s Phase -XXI initiative and is poised to contribute significantly to India’s renewable energy landscape.
Geeta Kapur, the esteemed Chairperson & Managing Director of SJVN Limited, shared insightful details regarding this groundbreaking achievement. The project was secured through a rigorous tariff-based competitive bidding process conducted by GUVNL, wherein SJVN Green Energy Limited emerged victorious with an impressive bid of INR 2.54 per Unit. This milestone underscores SJVN’s commitment to driving sustainable energy solutions and bolstering India’s renewable energy capabilities.
The ambitious project, encompassing a total capacity of 500 MW (comprising 100 MW + 400 MW Green Shoe), is slated for construction and development at the esteemed GIPCL Solar Park located in Khavda. The estimated investment of ₹2,700 Crore highlights the scale and significance of this transformative venture, which aims to harness solar energy to power homes, businesses, and industries across the region.
Upon the finalization of the power purchase agreement (PPA) with GUVNL, post the adoption of tariff by the Gujarat Electricity Regulatory Commission (GERC), SJVN Green Energy Limited is poised to commence work on this pioneering initiative. The project is projected to be operational within 18 Months from the date of signing the PPA, with a targeted completion timeframe set for November 2025.
This landmark collaboration between SJVN Green Energy Limited and GUVNL exemplifies a shared vision for advancing renewable energy infrastructure and fostering sustainable development. By leveraging cutting-edge technology and innovative solutions, this venture is poised to drive economic growth, create employment opportunities, and propel India towards a greener, more sustainable future.