SJVN Green had participated in the tariff based competitive bidding process of Omkareshwar Floating Solar Park Phase-II (300 MW) conducted by RUMSL and bagged the full quoted capacity of 90 MW (unit- B) floating solar project at Rs 3.79 per unit on build own and operate (BOO) basis.

The power purchase agreement shall be executed after issuance of LOI from RUMSL & MPPMCL. The floating solar project (FSP) project shall be developed by SGEL at the Omkareshwar reservoir, Madhya Pradesh through EPC contract.

Tentative cost of construction / development of this project is Rs 610 crore. The project is expected to generate 203 MUs in the first year and the cumulative energy generation over a period of 25 years would be about 4,781 MU. The project shall be commissioned in a period of 21 months from the date of signing of PPA.

This is SGEL's second unit at Omkareshwar Floating Solar Park. SGEL is already developing the 90 MW (Unit-F) at Omkareshwar Floating Solar Park Phase-I.

Separately, SJVN informed that SJVN Green has inked two MOUs, one with ONGC and other with Sambhar Salts, a subsidiary of Hindustan Salts.

The MOU with ONGC will pave the way for joint development of renewable energy projects including offshore & onshore solar, wind, hybrid, RTC Projects and also includes venturing into new technologies like green hydrogen, green ammonia, etc. This joint development of projects shall be done by formation of a joint venture company between SGEL & ONGC for which necessary approvals from respective Ministries, DIPAM and NITI Aayog shall be taken subsequently.

Further, the MOU with Sambhar Salts will pave the way for development of solar project/park in phases by SGEL on the identified land bank of Sambhar Salts. Both the parties shall explore and discuss the ways and means for equity partnership, revenue sharing mechanism for solar project development through project specific implementation agreements.

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.