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State-run SJVN Ltd has bagged a 90 MW floating solar project worth Rs 585 crore at Omkareshwar, in Madhya Pradesh. SJVN has bagged 90 MW Floating Solar Project at the rate of Rs 3.26/Unit on Build Own and Operate basis in a tender floated by REWA Ultra Mega Solar Ltd (RUMSL), Nand Lal Sharma, Chairman & Managing Director, SJVN said in a statement. SJVN will develop this project in the country's largest floating solar park at Omkareshwar in Khandwa District of Madhya Pradesh. According to the statement, the cost of developing this project will be approximately Rs 585 crore. After commissioning, the project will generate 219 Million Units in the first year and 5,158 Million Units over a period of 25 years. The Power Purchase Agreement will be signed between RUMSL and SJVN for 25 years. The project shall be commissioned within a period of 15 months from the date of signing of PPA. "This is our largest floating solar project bagged through tariff-based competitive bidding process.
Union power minister R K Singh on Tuesday urged German energy firms to invest in India as the country has emerged as the most attractive destination for investment in renewable energy sector. "Union Minister for Power and New & Renewable Energy R K Singh held a virtual round-table meeting today with major German energy companies about their expansion in India," said a statement by the Ministry of New and Renewable Energy (MNRE). Union secretary for power Alok Kumar, joint secretary MNRE Vandana Kumar and other senior officials from India and Germany also joined the meeting. Singh said that India has emerged as the most attractive destination for investment in Renewable Energy (RE). The country has focused programmes for capacity addition and accelerating the energy transition, he added. The minister said that India already has one of the largest RE capacities in the world, and the country has the fastest rate of growth of RE capacity addition. Singh emphasised that India will add