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SJVN Green Energy Achieves Financial Closure for Solar Project at Bikaner

SJVN Green Energy, a wholly owned subsidiary of SJVN, has achieved a major millstone by achieving financial closure for its 1,000 MW solar power project at Bikaner in Rajasthan.

 

The cost of the project is Rs 5,723.59 crore which is being financed at a debt equity ratio of 80:20. Government of India will be funding the viability gap of Rs 447.20 crore. The entire debt of Rs 4,444.71 crore has been tied up with IREDA including bridge loan of Rs 223.60 crore against the viability gap funding.

 

An EPC contract of this project has been awarded to Tata Power Solar Systems. The project is scheduled to be commissioned by January 2024, once commissioned, it will generate 2,455 million units in its first year of operation and 56,838 million units during entire life of the project.

 

The company has secured this 1,000 MW solar power project through competitive bidding from IREDA under the CPSU scheme having tariff of Rs 2.57 per unit.

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