SJVN, a government-owned power generation company in India, emerged victorious in a reverse auction conducted by GUVNL, securing a 100 MW solar project in the state of Gujarat. The winning bid, at a tariff of Rs 2.54 ($0.031) per kWh, paved the way for SJVN to undertake the project through its wholly-owned subsidiary, SJVN Green Energy (SGEL), operating on a build-own-operate basis. The estimated project cost is Rs 5.5 billion.

To be situated in the solar park developed by Gujarat Industrial Power Corp in Khavda, Gujarat, SGEL will oversee the project's execution through an engineering, procurement, and construction contract. The power generated will be purchased by GUVNL under a 25-year power purchase agreement.

SJVN anticipates the solar project to produce approximately 252 million units in its first year of operation, with a cumulative energy generation of about 5,866 million units over the 25-year period. Furthermore, the commissioning of this solar initiative is expected to result in a reduction of 287,463 tons of carbon emissions.