India’s SJVN Limited, through its subsidiary SJVN Green Energy Limited (SGEL), has started the operation of the 90 megawatt (MW) Omkareshwar Floating Solar Project, marking the company’s entry into the floating solar power segment and increasing its total installed capacity to 2,466.50 MW.

According to SJV, the solar plant was built in the Omkareshwar Floating Solar Park, the largest floating solar park in India located in District Khandwa, Madhya Pradesh. The project is also one of the largest floating solar projects in Central and North India.

Its total development cost was $77.54m (INR 646.20 crores) and is expected to increase SJVN's revenue by $7.68m (INR64 crores).

The Omkareshwar solar project is seen to generate 196.5 million units of energy in the first year, with estimated cumulative energy generation over a period of 25 years projected to reach 4,629.3 million units. The facility will also help eliminate 2.3 lakh tonnes of carbon and help in water conservation by reducing water evaporation.

The project was awarded through competitive tariff bidding on Build Own and Operate basis. The power purchase agreement has been executed between SGEL, Rewa Ultra Mega Solar Limited, and MP Power Management Company Limited for 25 years.