Shimla: SJVNs 1000 MW Solar Power Project being set up at Bikaner in Rajasthan has achieved financial closure, top executives of the company disclosed here.
Chairman & Managing Director, SJVN Mr Nand Lal Sharma here stated that the project is being financed at a debt equity ratio of 80:20. Government of India will be funding the viability gap of Rs. 447.20 Cr.
The entire debt of Rs. 4444.71 Cr. has been tied up with Indian Renewable Energy Development Agency Ltd (IREDA), a union government enterprise, he added.
Counted among India’s largest solar power projects, it is being implemented by SJVN Green Energy Limited (SGEL) a wholly owned subsidiary of SJVN Limited.
The Engineering, Procurement & Construction (EPC) Contract for this project has already been awarded to M/s Tata Power Solar Systems Ltd.
The total cost of the project is projected at Rs. 5723.59 Cr. and the plant is scheduled to be commissioning by January, 2024.
Once commissioned, it will generate 2455 million units in its First year of operation and 56838 million units during entire life of the project. SJVN had secured this 1000 MW largest Solar Power Project through competitive bidding from IREDA under the CPSU Scheme having tariff of Rs. 2.57 per unit, said Sharma.