Home Uncategorized SJVN bags 100 MW Solar Power Project from PSPCL

SJVN bags 100 MW Solar Power Project from PSPCL

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By Our Staff Reporter

Shimla, 3 Nov: SJVN has bagged a 100 MW Grid connected Solar PV Power Project from Punjab State Power Corporation Ltd (PSPCL).
According to Nand Lal Sharma, Chairman & Managing Director, SJVN, the Company has bagged the Project throughTariff based Competitive Bidding Process on Build Own and Operate (BOO) basis through e-Reverse Auction (e-RA) at a tariff of Rs 2.69 per unit.
Sharma stated that the tentative cost of construction of this project is Rs 545 Crores. The project is expected to generate 245.28 MU 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 (PPA) shall be signed between PSPCL and SJVN for 25 years.
Sharma added 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 Plant of 6.9 MW and 2 Wind Plants of 97.6 MW). He 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 Financial Year 2023-24, which shall be a gigantic leap for SJVN’s Renewable Capacity.
The Government of India has envisaged Power to All 24X7. Sharma reminded that, at the United Nations Climate Change Conference (COP 26), Prime Minister Narendra Modi declared India’s intent to generate 500 GW of renewable energy by 2030. Union Minister of Power & NRE RK Singh is extending 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 of India, SJVN has set its Shared Vision of capacity addition of 5000 MW by 2023, 12000 MW by 2030 & 25000 MW by 2040.