Public sector hydropower major SJVN has got 1,000 MW grid connected solar PV power project allotted by Indian Renewable Energy Development Agency Ltd (IREDA), its Chairman and Managing Director Nand Lal Sharma said on Friday.
He said the company got the project through open competitive bidding process for the capacity of 1,000 MW at the maximum tariff of Rs 2.45 per unit.
The company got the full quoted capacity of 1,000 MW at a viability gap funding (VGF) support of Rs 44.72 lakh per MW by the Centre.
The power generated from the projects will be solely for self-use or use by the government or government entities, either directly or through discoms.
Sharma said the tentative cost of the project is Rs 5,500 crore. The project is expected to generate 2,365 million units in the first year and the project cumulative energy generation over 25 years would be about 55,062 million units.
At present, the SJVN has a total installed capacity of 2,016.5 MW, which includes two hydropower plants of 1,912 MW and four renewable power plants of 104.5 MW.
Earlier, SJVN has procured three solar projects totalling 345 MW in Gujarat, Uttar Pradesh, and Bihar.