SJVN Eyes 5000 MW Solar Power Projects in Punjab

State-owned Satluj Jal Vidyut Nigam (SJVN), which has emerged as a pioneer in the development of renewable energy in India, is eyeing the development of about 5000 MW of green energy in the state of Punjab. In a recent move, SJVN’s Chairman & Managing Director Nand Lal Sharma met Bhagwant Mann, the Chief Minister of Punjab, in Chandigarh and expressed the interest of SJVN to develop renewable energy projects in Punjab. Punjab has been facing an extended power crisis, and has some of the highest power procurement rates in the country due to its dependence on expensive thermal power.

The Punjab Chief Minister said that SJVN will be extended all possible support for solar energy development in the state. The meeting was also attended by Sherry Kalsi, MLA of Batala, AK Singh, Director (Finance), SL Sharma, CEO (SGEL) and senior officials of both Punjab Government and SJVN.

Nand Lal Sharma said that his organisation is looking to develop 5000 MW renewable energy projects by way of solar projects, canal top solar projects and floating solar projects in the state. He said that this will be achieved by forming joint ventures, MoUs etc.

Nand Lal Sharma said, “SJVN has outlined a roadmap for developing renewable energy in the State of Punjab due to the exponential power demand as a result of various developmental activities. SJVN looks forward to be a strategic partner in this growth story of Punjab by harnessing green energy.” He added that SJVN is already developing a 100 MW solar power project in Punjab with an investment of Rs 545 crore. A Power Purchase Agreement for the solar project was also signed in June, 2022 with Punjab State Power Corporation Ltd. (PSPCL). The solar energy project will generate 245.28 MU of electricity in 2022 and the cumulative energy generation will come to about 5643.52 MU over a period of 25 years.

In his presentation, the CMD said that SJVN has about 42,000 MW of projects including the renewable portfolio. The company is presently executing 27 projects in hydro, thermal, solar and wind sectors in India, Nepal and Bhutan. Six of these projects are operational, while eight are being constructed and 13 are in the stage of survey and investigation.

Recently, SJVN signed an agreement with Rajasthan to construct 10,000 MW solar power projects including solar parks. It will also develop an 880 MW solar park in Kaza, Himachal Pradesh. SJVN wants to tap 5,000 MW  of renewable energy by 2023 and 25,000 MW by 2030, it claims.