SJVN signed two Power Purchase Agreements (PPA) for 1200 MW solar power in the august presence of Hon’ble Chief Minister of Punjab, Sh. Bhagwant Mann and Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN at Sangrur, Punjab today.
Sh. Nand Lal Sharma informed that SJVN through its wholly owned subsidiary SGEL has signed two PPAs with Punjab State Power Corporation Limited (PSPCL), for 200 MW Solar Project(s) to be developed anywhere in Punjab and other for 1000 MW Solar Project(s) to be developed anywhere in the country.
“These projects shall be developed within 18 months on Build Own and Operate basis and will involve an investment of around Rs. 7000 crores,” said Sh. Sharma.
Sh. Nand Lal Sharma apprised that the Letter of Intent for these 1200 MW projects was received from PSPCL on July 21, 2023. The projects are expected to generate 2997 million units in the first year and about 69661 million units cumulatively over a period of 25 years. The commissioning of these projects shall reduce more than 34 Lakh tonnes of carbon emission.
On this occasion, Sh. Baldev Singh Sran, CMD (PSPCL), Sh. Akhileshwar Singh, Director (Finance) SJVN, Sh. Paramjeet Singh, Director (Generation) PSPCL and other senior officials from the state government, SJVN and PSPCL were also present.
SJVN, a leading CPSU under Ministry of Power, is already executing 100 MW solar project at the cost of approx. Rs. 545 crores in Punjab. Earlier, SJVN also inked a Power Usage Agreement for 500 MW Solar Power PSPCL. This 500 MW solar power capacity shall be supplied from under development 1000 MW Bikaner Solar Power Project of SJVN in Rajasthan.