In a significant development, SJVN, a leading CPSU under the Ministry of Power, has signed a Power Purchase Agreement (PPA) for an 18 MW Solar Power project with Bhakra Beas Management Board (BBMB). The PPA signing ceremony took place in Shimla in the presence of Nand Lal Sharma, Chairman & Managing Director of SJVN.
SJVN Signs 18 MW Solar Power PPA With BBMB
The project, to be developed by SJVN’s wholly-owned subsidiary, SJVN Green Energy Limited (SGEL), is set to be established on BBMB’s land parcels located in the states of Himachal Pradesh and Punjab. The commissioning of this solar power project is scheduled for August 2024. Nand Lal Sharma highlighted that the project will be executed within 12 months on a Build Own and Operate basis, involving an investment of approximately Rs. 90 crores.
This significant milestone was achieved through open competitive bidding, with a tariff rate of Rs. 2.63/- finalized during the e-reverse auction organized by the Punjab Energy Development Agency. The project is expected to generate 39.42 million units of energy in its first year of operation, with a cumulative energy generation of about 917 million units over 25 years. A 25-year Power Purchase Agreement has been signed with BBMB, and the project is anticipated to reduce carbon emissions by 44,923 tons upon commissioning.
The Power Purchase Agreement was formally signed by Ajay Singh, CEO of SGEL, and Sh. Ajay Sharma, Special Secretary of BBMB. The event was attended by several dignitaries, including Geeta Kapur, Director (Personnel) of SJVN, Akhileshwar Singh, Director (Finance) of SJVN, Sushil Sharma, Director (Electrical) of SJVN, A.S. Juneja, Member (P) of BBMB, J.S. Kahlon, FA & CAO of BBMB, and Surjeet Singh, Director (P&D) of BBMB, along with other senior officers of SJVN and BBMB.
With this venture, SJVN is further solidifying its commitment to renewable energy and its ambitious goal of installing over 10,000 MW of renewable energy capacity in the next three years. This aligns with its Shared Vision of becoming a company with 25,000 MW by 2030 and 50,000 MW by 2040.
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