New Delhi, Jan 13 (PTI) State-owned SJVN will set up a 90 MW floating solar project in Omkareshwar, Madhya Pradesh at an investment of Rs 650 crore.

The project is scheduled to be commissioned by December 2023.

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Chairman and Managing Director Nand Lal Sharma performed bhumi pujan at the project site for the commencement of engineering, procurement and construction (EPC) work of the project at Omkareshwar Reservoir.

"The project was bagged at a tariff of Rs 3.26 per unit on build own and operate model in a bidding process conducted by REWA Ultra Mega Solar Limited (RUMSL)," Sharma was quoted as saying in a company statement.

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Energy generation of 196 million units in the first year and cumulative energy generation of about 4,570 million units over a period of 25 years is expected from the project, the statement said.

On commissioning, carbon emission reduction to the tune of 2,23,923 tonnes is expected, which will be a significant contribution in the government of India's mission of net zero carbon emission by 2070, SJVN said.

The project is being developed by SJVN's wholly owned subsidiary, SJVN Green Energy Limited (SGEL).

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)