SJVN has announced that the Cabinet Committee on Economic Affairs (CCEA) has approved the investment of Rs 2,614 crore for its 382 megawatt (MW) Sunni Dam Hydro Electric Project in Himachal Pradesh.
The power generation company said the project is scheduled to be commissioned within 63 months of the commencement of construction works and shall generate 1,382 million units annually.
The project is being financed on a 70:30 debt-equity ratio and on completion it will earn a 16.50% return on equity for the Company. This will reduce carbon dioxide emissions by 1.1 million tons annually, it added.
The company has aligned its shared vision of 5,000 MW by 2023, 25,000 MW by 2030 & 50,000 MW capacity by 2040 with that of the Government of India’s target of achieving 50% energy from non-fossil fuel sources by 2030. As a strategic & reliable partner, SJVN plans to play a vital role in the clean energy transition of the nation and vision to provide round-the-clock power to all, the company stated in the press release.