SJVN to set up 90 MW floating solar project in Omkareshwar at Rs 6.50 billion

SJVN Limited will set up a 90 MW floating solar project at Omkareshwar reservoir, Madhya Pradesh at an investment of Rs 6.50 billion.

The project is being developed by SJVN’s wholly owned subsidiary, SJVN Green Energy Limited (SGEL). The project was bagged at a tariff of Rs 3.26 per unit on build, own and operate basis in an open competitive tariff based bidding process conducted by REWA Ultra Mega Solar Limited (RUMSL). The project is expected to generate 196 million units (MUs) of clean energy in the first year and cumulative energy generation of about 4,570 MUs over a period of 25 years. The power purchase agreement for the project has been signed between SGEL, RUMSL and M.P. Power Management Company Limited. Meanwhile, the engineering, procurement and construction contract for the project has been awarded to Larsen & Toubro Limited. The project is scheduled to be commissioned by December 2023.