Indian firm Larsen & Toubro has secured a contract for the engineering, procurement and construction (EPC) works for SJVN’s 90 MW floating solar project in India.
Nand Lal Sharma, Chairman and Managing Director of SJVN, kicked off the project with an inaugural ceremony on 13 January.
The project will be located at the Omkareshwar Reservoir in central India and its delivery is slated for December 2023.
SJVN unveiled that the project, worth 6.5 billion rupees (approximately $79.7 million), is being developed by its wholly-owned subsidiary SJVN green Energy (SGEL). It was bagged at $0.040 per kwh on build-own-operate (BOO) basis under a tariff based competitive bidding (TBCB) process carried out by Rewa Ultra Mega Solar.
The Indian company also disclosed that the power purchase agreement (PPA) was signed between SGEL, RUMSL and MP Power Management Company.
According to SJVN, the floating solar project is expected to generate 196 million kWh of electricity in the first year with cumulative generation reaching 4570 million kWh over its 25-year lifespan.
From most recent company-related news it is worth noting that at the end of 2022 Larsen & Toubro secured an engineering, procurement and construction (EPC) contract for the planned mega green hydrogen plant in Saudi Arabia.