Shares of JSVN were trading in the green and 2% higher on 9 August after the company announced the commissioning of its 90 megawatt (MW) Omkareshwar Floating Solar Project. 

In its regulatory filing, the company said that SJVN Green Energy Limited (SGEL), a wholly-owned subsidiary of SJVN, is responsible for carrying out this project. SJVN’s total installed capacity grew to 2466.50 MW upon project commissioning, and the project will increase the company’s revenue by 64 crore.  

The 90 MW Omkareshwar Floating Solar Project is located at the Omkareshwar Floating Solar Park in Khandwa, Madhya Pradesh. 

This floating solar plant is one of the largest in Central and Northern India. Following the project’s implementation, the company entered the floating solar power industry.

In its first year of operation, the project, which has an estimated cost of Rs 646.20 crores, is expected to produce 196.5 million units of power and 4,629.3 million units of energy are anticipated to be produced collectively over a 25-year period. 

This floating solar plant will offset 2.3 lakh tonnes of carbon emission and will contribute significantly towards the Government of India’s mission of net zero carbon emission by 2070. Moreover, this project will also help in water conservation by reducing water evaporation. 

Through competitive tariff bidding on a Build Own and Operate basis, the project was awarded at a tariff of Rs 3.26 per unit. REWA Ultra Mega Solar Limited was in charge of the bidding (RUMSL). 

At 1:04 pm, the shares of SJVN were trading 0.23% higher at Rs 140.16 on NSE.

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