State-run SJVN bagged a contract to build, own and operate a 83 MW floating solar project worth Rs.585 crore in Madhya Pradesh. The project is secured at a tariff of Rs.3.70 per unit on build, own and operate basis in an e-reverse auction (e-RA) organized by REWA Ultra Mega Solar Ltd. (RUMSL), according to the company. In the words of SJVN Chairman and Managing Director Nand Lal Sharma, the company is expected to develop this project in India's largest floating solar park at Omkareshwar in district Khandwa, Madhya Pradesh.

It is said that the cost of the floating solar project will be approximately Rs.585crore.After commissioning, the project is expected to generate 187 million units in the

first year and 4,410 million units over a period of 25 years. Through its commissioning it is expected to reduce approximately 2,16,074 tonnes of carbon emission in 25 years it added.

SJVN Is Implementing The Project Along With Other Renewable Projects Of 4,090.5 Mw Capacity Through Its Wholly-Owned Subsidiary SJVN Green Energy Ltd

"This is our second floating solar project bagged through tariff based competitive bidding process from RUMSL. We are already developing a 90 MW floating solar project in Madhya Pradesh. SJVN is implementing this project along with other renewable projects of 4,090.5MW capacity through its wholly-owned subsidiary SJVN Green Energy Ltd", says Sharma.

The power purchase agreement(PPA) will be signed between RUMSL and SJVN for 25 years. The project shall be commissioned within 21 months from the date of signing of PPA.