SJVN inks two Power Purchase Agreements with PSPCL for 1,200 MW solar projects

SHIMLA: State run SJVN has signed two Power Purchase Agreements (PPAs) for 1,200 MW solar power in the presence of Chief Minister of Punjab, Bhagwant Mann and Nand Lal Sharma, Chairman & Managing Director of SJVN at Sangrur, Punjab on Monday.

Nand Lal Sharma informed that SJVN, through its wholly owned subsidiary SGEL has signed the PPAs for 200 MW Solar Project(s) to be developed in Punjab and the other for 1,000 MW Solar Project(s) to be developed at other places in the country.

“These projects shall be developed within 18 months on Build Own and Operate basis and will involve an investment of around Rs 7,000 crore,”.

Nand Lal Sharma apprised that the Letter of Intent for these 1,200 MW projects was received from PSPCL on July 21, 2023. The projects are expected to generate 2,997 million units in first year and about 69,661 million units cumulatively over a period of 25 years. The commissioning of these projects shall reduce more than 34 Lakh tonnes of carbon emission.

On this occasion, Baldev Singh Sran, CMD (PSPCL), Akhileshwar Singh, Director (Finance) SJVN, Paramjeet Singh, Director (Generation) PSPCL and other senior officials from the state government, SJVN and PSPCL were also present. SJVN, a leading CPSU under Ministry of Power is already executing 100 MW solar project at the cost of approx Rs 545 crore in Punjab. Earlier, SJVN also inked a Power Usage Agreement for 500 MW Solar Power with PSPCL. This 500 MW solar power capacity shall be supplied from 1,000 MW Bikaner Solar Power Project of SJVN under development in Rajasthan.