Rajasthan, J&K to buy power from SJVN's solar facility

  • IANS
  • Stock Market News
Rajasthan, J&K to buy power from SJVN's solar facility
Credit: © Reuters.

Shimla, Oct 19 (IANS) Public sector SJVN (NS: SJVN ) has received letters of intent from Jammu and Kashmir Power Corporation Ltd (JKPCL) and Rajasthan Urja Vikas Nigam Ltd (RUVNL) for purchasing solar power from an upcoming facility, SJVN Chairman and Managing Director Nand Lal Sharma said here on Thursday. JKPCL intends to purchase 600 MW, while RUVNL 500 MW at a tariff of Rs 2.57 per unit from the 1,000 MW Bikaner Solar Project in Rajasthan that is likely to be commissioned by June 2024.

The allocation of the solar power from the project will be as per Power Purchase Agreements (PPAs) that will be signed in near future, he said.

Sharma said the PPAs will be signed by SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN.

SGEL is developing a 1,000 MW Bikaner Solar Project.

President Droupadi Murmu laid the foundation stone for the 1,000 MW Bikaner Solar Project on January 3, 2023.

SJVN was awarded India’s single largest EPC contract of Rs 5,491 crore for this project to Tata Solar Power Systems Ltd.

Sharma said the project is expected to generate 2,455 million units in the first year and about 56,838 million units cumulatively over a period of 25 years. The project will lead to a reduction in carbon emissions of 27,85,077 tonnes.

SJVN, a central public sector undertaking under the Ministry of Power, has signed an memorandum of understanding with the Rajasthan government for developing 10 GW renewable energy projects and parks within the state.



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