SJVN Set To Complete Over 1,475 MW Of Solar Projects In Q1

SJVN Ltd. is set to complete 1,475 megawatts of solar projects in the first quarter of fiscal 2025, as it looks to execute projects of 3,503 megawatts during the current fiscal.

The company had 54,370 megawatts under its total renewable energy portfolio, as of December 2023. The 3,503-megawatt projects are on top of those awarded by the Solar Energy Corp. of India or under the Ultra Mega Renewable Energy Power Parks scheme.

According to the Central Electricity Authority, SJVN has 15 different projects under construction.

For the 3,503-megawatt projects, the first and fourth quarter are expected to see the most execution. While Q1 will see capacity execution of 1,475 megawatts, Q4 is slated to see 1,600-megawatts execution.

Solar projects that are expected to be completed in Q1 FY25 are:

• Bikaner Solar Power.

• Floating Solar Park.

• 100 MW Solar Power Project.

• GUVNL Phase-13 100 MW Solar Power Project.

• GUVNL Phase-14 260 MW Solar Power Project.

Of the five projects, Bikaner Solar Power, which is developed by SJVN Green Energy Ltd. under the CPSU Scheme Phase- II, has the highest of 1,000-megawatts capacity currently under construction, and is slated to be completed by June 30.

The GUVNL Phase-14 260 MW Solar Power Project, with 260 megawatts under construction, has the second highest capacity and is expected to be completed by the same date.

While the company has not disclosed per megawatt revenue run rate for under-construction solar projects, SJVN earns between Rs 61 lakh and Rs 67 lakh per megawatt, for projects that are running or under operations.

According to this calculation, revenue potential of solar projects that are to be completed in the first quarter of fiscal 2025 will be in the range of Rs 899.7 crore to Rs 988.2 crore.