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Indian power producer SJVN Ltd (BOM:533206) announced on Friday that one of its units has signed a power usage agreement for a fifth of the total capacity of the 1,000-MW Bikaner solar project in Rajasthan.
The counterparty is Uttarakhand Power Corporation Limited (UPCL), which has contracted 200 MW of Bikaner.
SJVN Green Energy Limited (SGEL) is developing the particular project under the CPSU Scheme of the Indian Renewable Energy Development Agency (IREDA). The total development cost is estimated at INR 54.9 billion (USD 660.6m/EUR 601m) and the solar plant is expected to enter into service by April 2024. The announcement notes that its output will be used by government entities, either directly or through DISCOMS.
With regard to its solar and wind portfolio, SJVN said that it has 5,090.5 MW of such projects.
(INR 10 = USD 0.120/EUR 0.110)
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