SJVN Green, a wholly owned subsidiary of SJVN, had participated in the tariff based competitive bidding conducted by Rajasthan Urja Vikas Nigam (RUVNL) for development of solar power project in the state of Rajasthan.

The letter of award (LoA) has been received on 06 October 2023 at a tariff of Rs 2.62 per unit for development of 100 MW solar power project to be situated anywhere in the state of Rajasthan. The solar project shall be developed on build own and operate (BOO) basis. Tentative cost of construction / development of this project is around Rs 600 crore.

The project is expected to generate about 252 MUs in the 1st year and the cumulative energy generation over a period of 25 years would be about 5866 MU. As per RfS, the project shall be commissioned in a period of 18 months from the date of signing of PPA. The PPA shall be signed between RUVNL and SGEL for 25 years.

"The commissioning of this project is expected to reduce 287,434 tonnes of carbon emission and would contribute in GoI mission of reduction in carbon emission,” SJVN said in a statement.

SJVN is an Indian public sector undertaking having business interests in hydro, thermal, solar, wind and in power transmission & power trading. It is a joint venture between the Government of India and the Government of Himachal Pradesh.

The company's consolidated net profit declined 55.39% to Rs 271.75 crore on a 32.80% fall in revenue to Rs 674.79 crore in Q1 FY24 over Q1 FY23.