State-run SJVN Ltd on Saturday announced that it has bagged 200 MW grid connected solar PV power project worth Rs 1,000 crore in Bihar.
SJVN chairman and managing director Nand Lal Sharma said in a statement that SJVN Ltd bagged the project through Open Competitive Tariff Bidding Process for quoted capacity of 200 MW Rs 3.11/unit on Build Own and Operate (BOO) basis during e-reverse auction held on August 13, 2021.
SJVN participated in tariff-based competitive bidding process for solar project of capacity 200 MW floated by Bihar Renewable Energy Development Agency (BREDA) wherein three other bidders also participated.
He further informed that the tentative cost of construction and development of this project is Rs 1,000 crore.
The project is expected to generate 420.48 MU (million units) in the 1st year and the project cumulative energy generation over a period of 25 years would be about 10,512 MU.
The PPA shall be signed between BREDA and SJVN for 25 years.
Sharma also told that presently, SJVN has a total installed capacity of 2,016.5 MW which includes two hydro power plants of 1,912 MW and four renewable power plants of 104.5 MW (two solar plants of 6.9 MW and 2 wind plants of 97.6 MW).
Earlier, SJVN bagged two solar projects totalling 145 MW in the state of Gujarat and Uttar Pradesh. Both these solar projects have also been bagged through open competitive bidding.
With this recent allotment of 200 MW, SJVN now has 345 MW of solar projects under execution.
He stated that all these solar projects are scheduled to be commissioned by March 2022, which shall be a gigantic leap for SJVN's renewable capacity.
The Government of India has envisaged the vision of Power to All 24X7 and has set a target of 175 GW of renewables, out of which 100 GW is to be met through solar by 2022.
In September last year at the United Nations Climate Action Summit, Prime Minister Narendra Modi had announced increasing the renewable energy target to 450 GW by 2030 from 175 GW by 2022.
In line with the target set by the Government of India, SJVN has set its shared vision of capacity addition of 5,000 MW by 2023, 12,000 MW by 2030 and 25,000 MW by 2040.
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