SJVN signs PPA for 90-MW floating solar project in Madhya Pradesh

SJVN Limited has signed a power purchase agreement (PPA) with Madhya Pradesh Power Management Company Limited and Rewa Ultra Mega Solar Limited (RUMSL) for a 90 MW floating solar project at Omkareshwar, Madhya Pradesh.

The letter of award for development of the project has been issued by RUMSL. The tentative cost of development of the project is Rs 5.85 billion. The project will be commissioned in a period of 15 months from the signing of power purchase agreement (PPA). SJVN bagged the project at Rs 3.26 per unit on build, own and operate basis in the tariff based competitive bidding process of RUMSL through e-reverse auction. This is the first floating solar project being developed by SJVN Green Energy Limited, a wholly-owned subsidiary of SJVN, in Madhya Pradesh. The project is expected to generate 194 MU of power in the first year and 4,570 MU over a period of 25 years. The commissioning of this project will reduce 0.23 million tonnes of carbon emission.