In a significant development for the renewable energy sector, Nand Lal Sharma, Chairman & Managing Director of SJVN, has announced that SJVN’s 1000 MW Bikaner Solar Project is set to supply 1100 MW of solar power to Jammu & Kashmir Power Corporation Limited (JKPCL) and Rajasthan Urja Vikas Nigam Limited (RUVNL). These commitments come at a tariff of Rs 2.57 per unit, as specified in the Letters of Intent. The allocation of the solar power will be formalized through Power Purchase Agreements (PPAs) to be signed in the near future.
Nand Lal Sharma emphasized that the PPAs will be executed by SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN. SGEL is currently overseeing the development of the 1000 MW Bikaner Solar Project situated in the state of Rajasthan.
The foundation stone for this ambitious project was laid by Hon’ble President of India, Droupadi Murmu, on January 3, 2023. The project, with an investment of Rs. 5491 crores, is poised for commissioning by June 2024. M/s Tata Solar Power Systems Limited was awarded India’s largest EPC Contract worth Rs. 5491 crores for this venture.
Nand Lal Sharma disclosed that this project is expected to generate a substantial 2455 million units in its inaugural year and an impressive cumulative total of approximately 56838 million units over a 25-year period. Furthermore, the project is set to have a substantial environmental impact, reducing carbon emissions by a staggering 27,85,077 tonnes.
SJVN Bikaner Solar Project Inks 1100 MW Deal With JKPCL And RUVNL
SJVN, a leading Central Public Sector Undertaking (CPSU) under the Ministry of Power, has previously signed a Memorandum of Understanding (MOU) with the Government of Rajasthan to develop 10 GW of renewable energy projects and parks within the state. Currently, SJVN’s project portfolio stands at 58144 MW.
The company’s commitment to expanding its renewable energy holdings aligns with the Government of India’s ambitious target for a green energy transition. SJVN is dedicated to achieving its Mission of 12,000 MW by 2026 and a shared vision of 25,000 MW by 2030, ultimately working towards an impressive 50,000 MW installed capacity by 2040. This landmark agreement not only advances SJVN’s commitment to green energy but also bolsters India’s growing renewable energy sector, contributing to a more sustainable and eco-friendly future.
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