Punjab To Review Power Agreement For Purchase Of Solar Power

Punjab CM Bhagwant Mann has announced to review the purchase power agreement for the purchase of solar power in the state. Mann said that the state government is now purchasing solar power at Rs 2.54 instead of purchasing it at Rs 15 as was done during the tenure of earlier governments in Punjab.

In a tweet, Punjab CM Mann also said that the purchase price of solar energy has been brought down to Rs 2.54 and that it will greatly benefit the residents of the state in the financial sector in the state.

Recently, Punjab State Power Corporation Limited signed ninth purchase power agreement for 2,800MW of solar power at an average cost of Rs 2.51/unit.

Last year, a memorandum of understanding (MoU) was signed by Punjab State Power Corporation Ltd (PSPCL) with Satluj Jal Vidyut Nigam (SJVN), a subsidiary of the Bhakra Beas Management Board, to purchase 1,200 MW solar energy.

According to an official statement, Punjab government is also working towards 200 MW canal-top solar power projects and 100 MW floating solar PV power projects in the state. These projects will be executed in build, operate and own (BOO) mode by the Punjab Energy Development Agency.

Last month, PSPCL also released a tender and invited bids for the development of 100 MW solar power projects as well as associated transmission system. The project will be established in Bathinda and the last date to submit the bid is December 18, 2024.

In other news, Solar Energy Corporation of India Limited (SECI) has filed a petition seeking resolution against Punjab State Power Corporation Limited (PSPCL)) for non-payment of outstanding amounts and late payment surcharges for renewable power supplied between April 1, 2020, and April 7, 2020.

Further advancing its plans to expand solar projects, Punjab government announced last year that Amritsar will be developed as a ‘Solar City’ of the north-western state during the launch of Punjab State Energy Action Plan.