SJVN bags 100 MW solar project from Punjab’s power corporation, Energy News, ET EnergyWorld

SJVN bags 100 MW solar project from Punjab's power corporationNew Delhi: State-owned power producer SJVN on Wednesday said it has bagged a 100 MW grid connected solar power project from Punjab State Power Corporation Ltd (PSPCL). SJVN Chairman & Managing Director Nand Lal Sharma said the company bagged the project through tariff based competitive bidding process, on Build Own and Operate basis through e-reverse auction at a tariff of Rs 2.69 per unit.

The tentative cost of construction of this project is Rs 545 crore, SJVN quoted Sharma as saying in a statement.

The project is expected to generate 245.28 MU (million units) in the first year, while the cumulative energy generation over a period of 25 years would be around 5643.52 MU.

The power purchase agreement shall be signed between PSPCL and SJVN for 25 years.

Sharma said that presently, SJVN has a total installed capacity of 2016.5 MW which includes 2 hydro power plants of 1912 MW and 4 renewable power plants of 104.5 MW (two solar plants of 6.9 MW and 2 wind plants of 97.6 MW).

Sharma further said that, with this allotment, SJVN now has 1445 MW of solar projects under execution.
He stated that all these solar projects are scheduled to be commissioned by 2023-24, which shall be a gigantic leap for SJVN’s renewable capacity.

He also highlighted the government’s vision of Power to All 24X7.

Recently, in the United Nations Climate Change Conference (COP 26), Prime Minister Narendra Modi stated India’s intent to generate 500 GW of renewable energy by 2030.

Sharma also said that Minister for Power and New & Renewable Energy R K Singh is extending great guidance and support to all power sector PSUs to go aggressively in harnessing solar power potential to achieve the goal of 24X7 affordable and green power.

In line with the target set by the government, SJVN has set its shared vision of capacity addition of 5000 MW by 2023, 12000 MW by 2030 and 25000 MW by 2040.

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