New Delhi: SJVN Ltd, formerly known as Satluj Jal Vidyut Nigam, has commissioned its 100 MW Raghanesda Solar Power Station located in the district of Banaskatha, Gujarat.
The public sector undertaking, involved in hydroelectric power generation and transmission said the project will generate 252 million units of energy in the first year while the cumulative energy generation over 25 years is estimated to be 5,805 million units.
Under a long-term Power Purchase Agreement signed in January 2022, the power generated by the Raghanesda Solar Power Station will be supplied to Gujarat Urja Vikas Nigam Limited (GUVNL) for 25 years.
With the addition of this project, SJVNs installed capacity becomes 2,377 MW. This milestone marks the commissioning of SJVNs second solar project this month, following the commissioning of the 50 MW Gujrai Solar Power Station in Uttar Pradesh on February 23, 2024.
SJVN Green Energy Limited, the renewable arm of SJVN Limited, had secured the 100 MW Raghanesda Solar Power Station at a tariff of Rs. 2.64 per unit through Tariff Based Competitive Bidding conducted by GUVNL.
The construction and development cost of the project is Rs. 642 crores.
SJVN Chairperson Managing Director Geeta Kapur said that the commissioning of the companys eleventh power project highlights SJVNs dedication to enhancing the green energy landscape of the nation and in further solidifying the companys position as a major player in the energy sector.
SJVN had secured the financing for the project from Japan Bank for International Cooperation under Global action for Reconciling Economic growth and Environmental preservation (GREEN) program, reinforcing its dedication to green initiatives and responsible growth.
The project will make a significant contribution to the Renewable Energy Goals of the state of Gujarat and will also contribute to fostering energy security in the region.
A listed entity, SJVN has 55% of its shares held by the Government of India, 26.85% by the Government of Himachal Pradesh and the remaining 18.15% by the public.
SJVN has diversified into almost all forms of energy i.e. Hydro, Thermal, Wind, Solar, Power trading and Transmission.
Looking ahead, SJVN aims to grow by setting ambitious targets to achieve the Shared Vision of 25,000 MW installed capacity by the year 2030 and 50,000 MW installed capacity by the year 2040.
