SJVN Receives Letters of intent from Rajasthan and J&K for 1000 MW solar power

by Psu Connect
Date: 19-10-23

SJVN had awarded India's single largest EPC Contract amounting to Rs. 5491 crores for this project to M/s Tata Solar Power Systems Limited.

SJVN Receives Letters of intent from Rajasthan and J&K for 1000 MW solar power

New Delhi: Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN Limited informed that SJVN has received Letters of Intent for purchasing solar power from Jammu & Kashmir Power Corporation Limited (JKPCL) & Rajasthan Urja Vikas Nigam Limited (RUVNL). JKPCL intends to purchase 600 MW and RUVNL is interested to purchase 500 MW at a tariff of Rs 2.57 per unit from 1000 MW Bikaner Solar Project. The allocation of the solar power from the project will be as per Power Purchase Agreements (PPAs) that will be signed in near future.

Sh. Nand Lal Sharma said that the PPAs will be signed by SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN. SGEL is developing a 1000 MW Bikaner Solar Project in the state of Rajasthan.

Hon’ble President of India, Smt. Droupadi Murmu laid the foundation stone of 1000 MW Bikaner Solar Project on January 3, 2023. SJVN had awarded India's single largest EPC Contract amounting to Rs. 5491 crores for this project to M/s Tata Solar Power Systems Limited. “This project is slated for commissioning by June 2024 and involves an investment of Rs. 5491 crores,” said Sh. Sharma.

Sh. Nand Lal Sharma apprised that the project is expected to generate 2455 million units in the first year and about 56838 million units cumulatively over a period of 25 years. The project will also lead to a reduction in Carbon emissions of 27,85,077 tonnes.

SJVN, a leading CPSU under the Ministry of Power has previously signed an MOU with the Government of Rajasthan for developing 10 GW renewable energy projects/parks within the state. Presently, the project portfolio of SJVN is 58144 MW & commitment of the company to expand its renewable energy portfolio aligns with Government of India's target of green energy transition. SJVN is committed to achieve its Mission of 12,000 MW by 2026 and Shared Vision of 25,000 MW by 2030 & 50,000 MW installed capacity by 2040.