SJVN, under the leadership of Chairman & Managing Director, Nand Lal Sharma, has achieved yet another milestone in its commitment to renewable energy. The company has been awarded a Letter of Award for a 100 MW Solar Power Project by Rajasthan Urja Vikas Nigam Limited (RUVNL) at an impressive tariff rate of Rs 2.62 per unit.
This remarkable project has been secured through SGEL, a wholly-owned subsidiary of SJVN, operating on the Build-Own-Operate basis. The project is slated to be developed in Rajasthan, with an estimated development cost of Rs. 600 crores through an EPC contract. The Power Purchase Agreement, to be signed between RUVNL and SGEL for a duration of 25 years, marks the countdown to the project’s commissioning, expected within 18 months from the agreement date.
Nand Lal Sharma, Chairman & Managing Director of SJVN, highlighted that this solar venture is projected to generate 252 million units of power in its inaugural year, eventually totaling a remarkable 5866 million units over a 25-year period. The most compelling aspect of this endeavor is its potential to significantly reduce carbon emissions, amounting to a reduction of 287,434 tonnes.
In addition to this substantial achievement, SJVN is concurrently working on its 1000 MW Bikaner Solar Project in the state of Rajasthan. This project’s foundation stone was ceremoniously laid by the Hon’ble President of India, Droupadi Murmu, on January 3, 2023. Furthermore, SJVN has previously inked a Memorandum of Understanding (MOU) with the Government of Rajasthan for the development of 10 GW renewable energy projects and parks within the state.
Presently, SJVN’s project portfolio stands at a commendable 58,144 MW, and the company’s unwavering commitment to expanding its renewable energy portfolio harmonizes with the Government of India’s vision for a green energy transition. SJVN has set its sights on achieving its mission of 12,000 MW by 2026 and shares a vision of reaching 25,000 MW by 2030, with a long-term goal of achieving an impressive 50,000 MW installed capacity by 2040. This significant development by SJVN further underscores the company’s dedication to sustainable, renewable energy solutions and its proactive role in shaping India’s clean energy future.
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