SJVN’s 200 MW Solar Project at Khavda Gets Foundation Stone Virtually Laid by PM Modi

On September 20, 2025, the foundation stone for SJVN’s 200 MW solar power project at Khavda Solar Park, Gujarat, was virtually laid by the Prime Minister, marking a milestone for the company’s renewable portfolio under GUVNL Phase XVII. The project will supply clean power to Gujarat Urja Vikas Nigam Limited for 25 years at a tariff of ₹2.88 per unit, reinforcing progress toward national renewable targets. The estimated project cost is ₹866.8 crore with commissioning slated by December 31, 2026.

Project highlights at Khavda

The 200 MW plant is located within the Khavda Solar Park, being developed by Gujarat State Electricity Corporation Limited in Kachchh district, connecting SJVN’s capacity to Gujarat’s grid under a long-term arrangement. The power sale is contracted to GUVNL for 25 years at ₹2.88 per unit, ensuring predictable cash flows for the asset. The capital outlay is pegged at ₹866.8 crore with commissioning targeted by December 31, 2026.

Generation and emissions impact

The project is expected to generate 504.92 million units in year 1 and 11,620 million units cumulatively over 25 years, expanding Gujarat’s renewable supply base. Carbon emissions reduction is projected at about 5,69,250 tonnes across the project life, contributing to Net Zero by 2070. These metrics align with India’s broader 500 GW renewable energy capacity goal by 2030.

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Wider context and participation

The virtual ceremony included senior leadership from SJVN and SGEL, along with central and state dignitaries, reflecting policy alignment for clean energy expansion. SJVN, a Navratna CPSE, has commissioned 14 projects with 2,968 MW installed capacity and 123 km of transmission lines, and operates across India and Nepal. The Khavda initiative utilises arid Kachchh land while supporting local employment through project development.

Contracting and park development

Khavda Solar Park infrastructure is being developed by GSECL, facilitating plot-level connectivity and expedited build timelines for awarded capacities. The SJVN project falls under GUVNL Phase XVII, part of Gujarat’s structured procurement to secure low-cost solar over multi-year horizons. Similar park-linked awards in Khavda have shown tariffs in a tight band, underpinning competitive unit economics.

SJVN Share Price Performance

On September 22, 2025, SJVN share price opened at ₹94.50 on NSE, above the previous close of ₹94.45. During the day, it surged to ₹95.40 and dipped to ₹94.11. The stock is trading at ₹94.34 as of 11:54 AM. The stock registered a marginal change of -0.12%.

Over the past week, it has moved up by 0.20%, over the past month, it has declined by 4.75%, and over the past 3 months, it has declined by 3.58%.

Conclusion

SJVN’s 200 MW Khavda project, with ₹866.8 crore investment and ₹2.88 per unit tariff, is positioned to deliver 11,620 million units over 25 years, aiding Gujarat’s clean energy needs and national climate goals by 2030 and 2070 timelines. The scheduled commissioning by December 31, 2026, and structured offtake with GUVNL underscore execution visibility and grid integration readiness.

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