Subsidiary of SJVN achieves closure of 1,000 MW solar power project | Daily News Byte

Subsidiary of SJVN achieves closure of 1,000 MW solar power project

 | Daily News Byte

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Subsidiary of SJVN achieves closure of 1,000 MW solar power project

 | Daily News Byte

SJVN Limited informs that its wholly owned subsidiary SJVN Green Energy Limited has completed a major milestone with the financial close of a 1,000 MW solar power project in Bikaner, Rajasthan.

Tata Power Solar Systems Limited has been awarded the EPC contract for this project. The total cost of the project is 5,723.59 billion rupees. The project is funded with a debt ratio of 80:20.

The Government of India will fund 447.20 million rupees for the living space. A total disbursement of Rs 4,444.71 crore has been given to IREDA, including a bridging loan of Rs 223.60 crore for the viability gap fund.

The project is scheduled to be completed on January 3, 2024. It will be able to produce 2,455 million units in the first year of operation and 56,838 million units throughout the duration of the project.

The company won this 1,000 MW solar power project through the tender from IREDA under the CPSU scheme with a tariff of Rs 2.57 per unit.

At around 12:14 pm, SJVN was trading at Rs37.40 down 0.53% from its previous close of Rs37.60 on the BSE. The paper touched today’s high and low of Rs38.35 and Rs37.15 respectively.

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