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					</table><p>SJVN Green Energy (SGEL), a wholly owned subsidiary of <a href="https://sjvn.nic.in/" target="_blank" rel="noopener">SJVN</a>, has signed a power usage agreement (PUA) and power purchase agreement (PPA) with Rajasthan Urja Vikas and IT Services (<a href="https://energy.rajasthan.gov.in/ruvks/#/home/dptHome" target="_blank" rel="noopener">RUVITL</a>) for the supply of 600 MW of solar power for 25 years.</p>
<p>The PUA entails the supply of 500 MW of solar power from SGEL’s 1 GW Bikaner solar power project at a tariff of ₹2.57 (~$0.0311)/kWh. SGEL had <a href="https://www.mercomindia.com/ntpc-sjvn-nhpc-nlc-ircon-win-iredas-5-gw-cpsu-auction" target="_blank" rel="noopener">won</a> the project capacity in the Indian Renewable Energy Development Agency’s auction for 5 GW of grid-connected solar projects (Tranche-III) under the Central Public Sector Undertaking (CPSU) Program (Phase-II).</p>
<p>The PPA involves the 100 MW solar power to be supplied at a tariff of ₹2.62 (~$0.0317)/kWh from the project SGEL <a href="https://www.mercomindia.com/mahindra-susten-sael-avaada-winners-ruvnls-1-gw-auction" target="_blank" rel="noopener">won</a> in Rajasthan Urja Vikas Nigam’s auction to supply 1 GW of power from state transmission utility (STU)-connected solar power projects in the state.</p>
<p>The 1 GW Bikaner solar power project is claimed to be the country&#8217;s largest single-location project, and it is being developed at the Banderwala village in Bikaner, Rajasthan. The project will cost an estimated ₹54.91 billion (~$663.63 million) and is expected to be commissioned by September 30, 2024. It would generate 2,454.84 MU in the first year of operation and 56,474 MU over 25 years.</p>
<p>With the recent PUA with RUVITL, SGEL has not secured the supply agreement for the entire 1 GW capacity of the project; the other two beneficiaries include <a href="https://uppcl.org/uppcl/en" target="_blank" rel="noopener">Uttar Pradesh Power Corporation</a> for 200 MW and <a href="https://pdd.jk.gov.in/" target="_blank" rel="noopener">Jammu and Kashmir Power Corporation</a> for <a href="https://www.mercomindia.com/sjvn-green-signs-power-solar-project" target="_blank" rel="noopener">300 MW</a>.</p>
<p>The 100 MW capacity under the PPA is being developed on 387.56 acres of land of Sambhar Salts at Nawa, Rajasthan, leased to SGEL for 28 years.</p>
<p>The estimated cost of the project is ₹5.5 billion (~$66.47 million) and is expected to be commissioned within 18 months.</p>
<p>The project developed on a build-own-operate basis is expected to generate 252 MU in the first year and 5,866 MU over its 25-year project lifetime.</p>
<p>Recently, SGEL <a href="https://www.mercomindia.com/sjvn-50-mw-solar-project-assam" target="_blank" rel="noopener">broke</a> ground for its 50 MW solar power project at the Sitalmari village of Sonitpur district in Assam.</p>
<p>Subscribe to Mercom’s <a href="https://www.mercomindia.com/product/india-solar-tender-tracker" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of tender activity in real time.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/satish-shetty/" class="vcard author" rel="author"><span class="fn">Satish Shetty</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Satish-pic-1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Satish Shetty,</strong> Associate Editor at Mercom India<br />
<a href="https://mercomindia.com/author/satish-shetty/" target="_blank" rel="noopener">More articles from Satish Shetty.</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Satish-pic-1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/satish-shetty/" target="_blank" rel="noopener"><strong style="color: #00b451">Satish Shetty</strong></a> is an Associate Editor with Mercom India. Prior to Mercom, Satish was a multimedia news producer at Reuters, where he gained experience in digital news media. Satish has his Bachelor of Arts (B.A.) degree in Broadcast Journalism from Limkokwing University of Creative Technology, Malaysia.<br />
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SJVN Inks Agreements to Supply 600 MW Solar Power in Rajasthan


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					</table><p>In a first-of-its-kind transaction undertaken by a public sector undertaking, <a href="https://sjvn.nic.in/" target="_blank" rel="noopener">SJVN</a>, a joint venture between the Government of India and the state of Himachal Pradesh, secured ₹100 billion (~$1.2 billion) construction financing facility to fund its upcoming renewable energy projects.</p>
<p>The financing was raised by <a href="https://www.db.com/index?language_id=1&amp;kid=sl.redirect-en.shortcut" target="_blank" rel="noopener">Deutsche Bank</a>, <a href="https://bank.sbi/" target="_blank" rel="noopener">State Bank of India</a>, <a href="https://www.pnbindia.in/" target="_blank" rel="noopener">Punjab National Bank</a>, <a href="https://bankofindia.co.in/" target="_blank" rel="noopener">Bank of India</a> and, Mitsubishi and United Financial of Japan Financial Group (<a href="https://www.bk.mufg.jp/global/" target="_blank" rel="noopener">MUFG</a>) Bank.</p>
<p>SJVN undertook the initiative to secure the funding through its subsidiary SJVN Green Energy, with State Bank of India Capital Markets (<a href="https://www.sbicaps.com/" target="_blank" rel="noopener">SBI CAPS</a>) acting as the sole advisor and arranger for the transaction.</p>
<p>The construction financing request is said to have received tremendous response from lenders and was over-subscribed.</p>
<p>The facility will be of a revolving nature and would allow SJVN to draw down funds on an ongoing basis as per the construction requirements of its projects. This is expected to enable the fast-tracking of its under-construction renewable energy projects and contribute to India’s target of achieving 500 GW of renewable energy by 2030.</p>
<p>“We are exhilarated to have secured this facility from five leading banks, which underscores the financial community&#8217;s recognition of our commitment to a greener and more sustainable future,&#8221; said Nand Lal Sharma, Chairperson and Managing Director.</p>
<p>He said the construction financing facility will be deployed strategically to develop solar and wind energy projects across India. These projects will create employment opportunities, boost the local economy, and contribute significantly to harnessing renewable energy.</p>
<p>The company’s renewable energy portfolio stands at 5,090.5 MW, out of which 179.5 MW is under operation, 1,860 MW is under construction, and 3,051 MW is under various stages of implementation.</p>
<p>SJVN Green Energy also received the go-ahead to form a joint venture with Maharashtra State Power Generation Company to develop 5,000 MW renewable energy projects. This is in addition to another joint venture between the company, the Government of Arunachal Pradesh, and Navyuga Engineering Company to execute the development of the 1,878 MW Oju Hydro Electric Project in Arunachal Pradesh.</p>
<p>The company is also in joint ventures with Nepal Electricity Authority &amp; GMR Energy and Assam Power Development Company to implement the 900 MW Upper Karnali Hydro Electric Project and 1,000 MW renewable energy projects, respectively.</p>
<p>Last month, SJVN <a href="https://www.mercomindia.com/sjvn-bids-to-acquire-solar-projects-in-assam" target="_blank" rel="noopener">invited</a> bids to purchase or lease up to 1,000 acres of land in Assam for 28 years to develop 200 MW of solar power projects.</p>
<p>In June, the company also <a href="https://mercomindia.com/sjvn-bids-1-5-gw-renewable-energy-storage" target="_blank" rel="noopener">invited</a> bids to select renewable developers for the supply of 1,500 MW of power from interstate transmission system-connected renewable energy projects with energy storage capacities across India.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/staff/" class="vcard author" rel="author"><span class="fn">Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

SJVN Secures ₹100 Billion to Fund the Construction of Renewable Projects


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					</table><p>SJVN Green Energy (SGEL), a wholly owned subsidiary of <a href="https://sjvn.nic.in/" target="_blank" rel="noopener">SJVN</a>, has invited bids from contractors to set up a 15 MW floating solar project at Nangal Pond in the Bilaspur district of Himachal Pradesh.</p>
<p>The project should be commissioned within 540 days from the work order. The successful bidder must provide comprehensive operation and maintenance (O&amp;M) for three years.</p>
<p>The last day to submit the bids is September 15, 2022. Bids will be opened on the same day</p>
<p>Bidders must submit an earnest money deposit of ₹11 million (~$137,460). The cost of the bidding documents is ₹10,000 (~$125).</p>
<p>The contractor&#8217;s scope of work involves end-to-end delivery of the commissioned project to SGEL. This includes design, engineering, procurement of equipment and material, testing, installation, erection, commissioning, performance demonstration, and operational acceptance of the floating solar project on a turnkey basis.</p>
<p>Bidders must have completed one solar project of 12 MW, two projects of 7.5 MW each, or three projects of 6 MW each in the last seven years. During the last seven years, they should have completed at least one year of O&amp;M for a 4 MW solar project.</p>
<p>Bidders should also have an award for a floating solar project on an engineering, procurement, and construction basis of at least 1 MW during the last seven years.</p>
<p>The average annual turnover of the bidders in the last three financial years must be ₹300 million (~$3.75 million). Their net worth must be positive during the last financial year. Out of the last three financial years, the net worth should be positive for a minimum of two years.</p>
<p>Bidders must have a working capital capacity to have a cash flow of at least ₹2.5 million (~$31,238)/MW, as per the immediately preceding audited balance sheet.</p>
<p>They must submit a certificate from the bank, ensuring they have sufficient funds to provide a bank guarantee amounting to ₹1.5 million (~$18,743)/MW of total capacity.</p>
<p>In July, SGEL <a href="https://mercomindia.com/daily-news-wrap-up-sjvn-issues-tender-floating-solar-project/" target="_blank" rel="noopener">issued</a> a notice inviting tender for the design, engineering, supply, construction, erection, testing, and commissioning of a 90 MW floating solar project at Omkareshwar in Madhya Pradesh.</p>
<p>Subscribe to Mercom&#8217;s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of tender activity in real-time.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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EPC Tender Issued for a 15 MW Floating Solar Project in Himachal Pradesh

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