SJVN Bags INR 7000 Cr Solar Power Contract from Punjab State Power Corporation Ltd

Tariff Discovered in SJVN 1.5 GW Tender Exceeds INR 4 per Kwh

SJVN, through its wholly-owned subsidiary- SJVN Green Energy Limited (SGEL) has received the letter of Intent (LOI) from Punjab State Power Corporation Limited (PSPCL). This agreement will pave the way for the procurement of 1200 MW solar power. As per the contract terms, SGEL will develop 1000 MW project anywhere in the country. The remaining 200 MW in the state of Punjab will be set up as per the RFS provisions.

The solar projects shall be developed on Build Own and Operate (BOO) basis. The tentative cost of the construction/ development of the 1200 MW project is around INR 7000 crore. The projects are expected to generate 2997 MUs in the first year and the cumulative energy generation over a period of 25 years would be about 69661 MUs. The commissioning of this project is expected to reduce 34.2 lakh tonnes of carbon emission

As per the RfS, the project shall be commissioned in a period of 18 months from the date of signing of the PPA and expected to be commissioned by December 2024.The PPA shall be signed between PSPCL and SGEL for 25 years.

The firm boasts of a portfolio of 54,327 MW and is striving for 5,000 MW by 2023-24, 25,000 MW by 2030 and 50,000 MW Company by 2040.

A few days ago, SJVN entered into Power Purchase Agreements (PPA) for a cumulative capacity of 300 MW renewable energy projects won through competitive bidding. The PPAs have been signed for 200 MW solar power project capacity with Maharashtra State Electricity Distribution Company Limited (MSEDCL) at Mumbai and with Solar Energy Corporation of India Limited (SECI) for 100 MW wind power capacity at Delhi.

Earlier, SJVN Green Energy had won a capacity of 200 MW for a wind energy project via competitive bidding through a tender floated by SECI.