SJVN Ltd. has received a Letter of Intent from Gujarat Urja Vikas Nigam Ltd. for a 200-megawatt solar power project.
The Rs 1,100-crore ground mounted solar project will be developed by SJVN Green Energy Ltd., a subsidiary of the company, an exchange filing said on Wednesday.
SJVN Green Energy will develop the project anywhere in India through EPC contract, according to the filing.
The power purchase project will be executed with Gujarat Urja Vikas Nigam after the adoption of tariff by Gujarat Electricity Regulatory Commission, it said.
The project will be commissioned within a period of 18 months, from the date of signing of PPA between GUVNL and SGEL for a period of 25 years.
It will help create 508.4 million units in the first year after commissioning and over a period of 25 years, it will generate 11,836.28 million units, the filing said.
The power project will help reduce 5,79,976 tonne of carbon emission. The company has a shared vision along with the government of India to generate 50% energy from non-fossil fuel-based energy resources by 2030, it said.
Shares of SJVN closed 0.03% lower at Rs 146.95 apiece, as compared with a 0.05% fall in the benchmark BSE Sensex.
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