State-run power producers SJVN Ltd on Thursday (November 16) inked a power purchase agreement (PPA) for a 200 MW grid-connected wind power project with Solar Energy Corporation of India Ltd (SECI).

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The agreement comes following the successful participation of SJVN Green Energy Ltd (SGEL), a wholly-owned subsidiary of SJVN Ltd, in SECI's tariff-based competitive bidding process.

SGEL secured the 200-MW project at an attractive tariff of ₹3.24 per unit on a build own and operate (BOO) basis, emerging victorious in the open competitive tariff bidding process. This accomplishment propels the company's wind portfolio to an impressive 497.6 MW.

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The 200-MW wind project, to be developed by SGEL in India through an engineering, procurement, and construction (EPC) contract, is estimated to incur a tentative cost of ₹1,400 crore.

Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units.

With a targeted commissioning date set for November 2025, the addition of this capacity not only fortifies SJVN Ltd's position in the renewable energy sector but also aligns with the government of India's ambitious goal of achieving 50% installed capacity from non-fossil fuel sources by 2030.

Furthermore, this strategic move contributes to SJVN Ltd's new mission of reaching 12,000 MW by 2026 and actively supports the shared vision of attaining 50,000 MW installed capacity by 2040.

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Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.

(Edited by : Shoma Bhattacharjee)