SJVN Green Energy achieves financial closure of its 1,000 MW solar power project in Rajasthan

SJVN Green Energy Limited has achieved financial closure of its 1,000 MW solar power project under execution at Bikaner, Rajasthan.

The engineering, procurement and construction (EPC) contract of this project has been awarded to Tata Power Solar Systems Limited. Total cost of the project is Rs 57.24 billion. The project is being financed at a debt equity ratio of 80:20. The central government will be funding the viability gap of Rs 4.47 billion. The entire debt of Rs 44.45 billion has been tied up with Indian Renewable Energy Development Agency Limited (IREDA). The project is scheduled to be commissioned in January 2024. Once commissioned, it will generate 2,455 million units (MUs) in the first year of operation and 56,838 MUs during entire life of the project. The company has secured this project through competitive bidding from IREDA under the central public sector undertaking (CPSU) scheme having tariff of Rs 2.57 per unit.