SJVN Signs Power Purchase Agreement with BBMB for developing Solar Project
SJVN signed a Power Purchase Agreement (PPA) for 18 MW Solar Power with Bhakra Beas Management Board (BBMB) in the august presence of Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN at Shimla today.
Sh. Nand Lal Sharma informed that SJVN through its wholly owned subsidiary SJVN Green Energy Limited (SGEL) has signed PPA with BBMB for 18 MW Solar Power. The project will be developed on the land parcels of BBMB in the states of Himachal Pradesh & Punjab. The project is scheduled to be commissioned by August 2024.
“The project shall be developed within 12 months on Build Own and Operate basis and will involve an investment of around Rs. 90 crores,” said Sh. Sharma.
Sh. Nand Lal Sharma further added the Project has been secured through open competitive bidding at a tariff of Rs. 2.63/- in the e-reverse auction organized by Punjab Energy Development Agency. The project will generate 39.42 million units of energy in the first year of operation and the cumulative energy generation over a period of 25 years would be about 917 million units. Power Purchase Agreement for the power produced from the project has been signed with BBMB for 25 years. Commissioning of this project is expected to reduce 44,923 tons of carbon emission.
The Power Purchase Agreement was signed by Sh. Ajay Singh CEO, SGEL & Sh. Ajay Sharma Special Secretary, BBMB. On this occasion, Smt. Geeta Kapur, Director (Personnel), SJVN, Sh. Akhileshwar Singh Director (Finance), SJVN, Sh. Sushil Sharma Director (Electrical), SJVN, Sh. A.S. Juneja Member (P), BBMB, Sh. J.S. Kahlon FA & CAO, BBMB and Sh. Surjeet Singh, Director (P&D) BBMB were also present along with other senior officers of SJVN and BBMB.
SJVN, a leading CPSU under Ministry of Power, plans to install over 10,000 MW renewable energy capacity in three years while progressing towards its Shared Vision of becoming a company of 25000 MW by 2030 and 50000 MW by 2040.
