State-owned hydropower producer SJVN Limited, a joint venture of the Government of India and the State Government of Himachal Pradesh, has emerged as the winner in a 200 megawatt solar auction by Bihar Renewable Energy Development Agency. It secured the project by quoting the lowest tariff of INR 3.11/kWh (USD 0.042/kWh) to develop the capacity on a build-own-operate basis. The cost of project construction is estimated at INR 1,000 crore (USD 135 million). The photovoltaic plant is expected to generate 420.48 million units of electricity in the 1st year and a cumulative 10,512 million units over 25 years.
Bihar Renewable Energy Development Agency will sign a 25 year power purchase agreement with SJVN.
“These projects will help SJVN in achieving its ambitious shared vision of 5,000 megawatt by year 2023, 12,000 megawatt by year 2030, and 25,000 megawatt by year 2040 and simultaneously contribute towards RE capacity addition target of 175 gigawatt by year 2022 set by the Government of India,” read an SJVN statement.