Indian president lays foundation stone for 1-GW solar project

Indian power producer SJVN Ltd (BOM:533206) on Tuesday announced the laying of the foundation stone for its 1,000-MW Bikaner solar project at Jaipur in the state of Rajasthan.

The event was attended by Indian president Droupadi Murmu as well as by the governor of Rajasthan Kalraj Mishra and the state’s chief minister Ashok Gehlot.

The company is implementing this project through its fully-owned unit SJVN Green Energy Ltd (SGEL) after securing it in a competitive bidding process under the Central Public Sector Undertaking Scheme Phase-II, Tranche-III. SGEL is building the plant on 5,000 acres of land near the village of Banderwala in Bikaner district. According to SJVN’s managing director Nand Lal Sharma, this area has one of the highest solar yields in the country.

The total cost of the project is estimated at INR 54.92 billion (USD 664.4m/EUR 622.9m), with the Indian Renewable Energy Development Agency (IREDA) providing Viability Gap Funding support of INR 4.47 million per MW. Its commissioning is scheduled to take place by March 2024.

SJVN noted that the output of the plant will be allocated for self-use or use by government entities, either directly or through Distribution Companies (DISCOMS).

(INR 10 = USD 0.121/EUR 0.113)

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