India's state-owned SJVN has won the solar tender held by Maharashtra State Power Generation Co.
SJVN has won a 105 MW floating solar project in Maharashtra at the lowest bid of INR3.93 (US$0.047) per kWh in a reverse auction held by the Maharashtra State Power Generation Corporation in India.
SJVN will build the project using a build-own-operate operating model and has estimated project development costs of $87.9 million. The project is scheduled to be operational within 15 months of the date of the power purchase agreement.
The project will produce 230 million units of power in the first year of operation and 5.42 billion units over 25 years," said Nand Lal Sharma, chairman and managing director of SJVN. Once commissioned, the project is expected to reduce carbon emissions by 265,602 tons."