State-owned SJVN announced that its green energy division had secured a 200 Megawatt solar project in Maharashtra that would cost $1 billion to build. According to a BSE filing, “SJVN Green Energy Ltd (SGEL), a wholly-owned subsidiary of the business, obtained a Letter of Award from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for a 200 MW solar power project to be developed in Maharashtra”.
The project must be completed in 18 months, starting when the PPA (power purchase agreement) with MSEDCL was signed. It said the approximate cost of building or developing this project would be Rs 1,000 crore.
The project is anticipated to produce 455.52 MU (million units) in the first year and 10,480.82 MU (million units) in total during 25 years. This project’s completion is anticipated to result in a 5,13,560-tonne reduction in carbon emissions, helping the government meet its goal of 500 GW of renewable energy capacity by 2030.