SJVN, a state-owned company in India, has announced that its wholly-owned subsidiary, SJVN Green Energy, has been awarded a 200 MW solar power project in Maharashtra by the Maharashtra State Electricity Distribution Company (MSEDCL). The project is expected to be developed in Maharashtra and constructed over 18 months after signing the power purchase agreement with MSEDCL.
The tentative cost of construction and development of the project is estimated to be around Rs 1,000 crore. The project is expected to generate 455.52 million units of electricity in the first year, and the cumulative energy generation over 25 years is expected to be about 10,480.82 million units. This project is expected to significantly contribute to the Indian government’s mission of achieving 500 GW of renewable capacity by 2030.
Commissioning of this solar power project is expected to reduce 5,13,560 tonnes of carbon emission, indicating a step towards a cleaner and greener future. The solar power plant is set to significantly contribute to Maharashtra, one of India’s leading states in renewable energy adoption. The state’s renewable energy target is to achieve 17.5 GW by 2025, which will likely increase further.
This development is a major boost for SJVN, rapidly expanding its green energy portfolio. The company has set an ambitious target of achieving a total installed capacity of 5 GW from renewable energy sources by 2023. With the successful bid for this solar power project in Maharashtra, SJVN has further demonstrated its commitment to sustainability and green energy.