SJVN inks Long Term Agreements for supply of 600 MW solar power to Rajasthan
In Short – SJVN secures Long-Term Agreements for the supply of 600 MW solar power to Rajasthan. This landmark deal underscores SJVN’s commitment to renewable energy expansion and strengthens its position as a key player in India’s solar energy sector, contributing to Rajasthan’s sustainable development goals.
In Details – SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN, has signed a Long Term Power Usage Agreement (PUA) for 500 MW Solar Power and a Long Term Power Purchase Agreement (PPA) for 100 MW Solar Power, with Rajasthan Urja Vikas and IT Services Limited (RUVITL) in Jaipur today, March 10, 2024. The Power Usage Agreement is for 500 MW Solar Power from Bikaner Solar Power Project and the Power Purchase Agreement (PPA) is for 100 MW Solar Power from Rajasthan Solar Power Project, both for a period of 25 years.
Power Usage Agreement for supply of 500 MW to Rajasthan
Speaking about the Power Usage Agreement, Chairperson & Managing Director, SJVN, Smt. Geeta Kapur informed that under the Agreement, SGEL would supply 500 MW Power at a tariff of Rs. 2.57 per unit, from the 1,000 MW Bikaner Solar Power Project being developed by SGEL under Phase-II (Tranche-3) of the Central Public Sector Units Scheme. This project is the country’s largest single-location project. Being developed at village Banderwala, in Bikaner, Rajasthan, the 1000 MW Solar Project is expected to generate 2,454.84 million units of energy in the first year and a cumulative energy of about 56,474 million units over a period of 25 years. The project is being developed at a cost of Rs. 5,491 Crores and is expected to be commissioned by September 30, 2024. With the signing of this PUA, SGEL has secured tie-up of the full project capacity of 1,000 MW, with 200 MW to be supplied to Uttar Pradesh Power Corporation Limited (UPPCL) and 300 MW to Jammu and Kashmir Power Corporation Limited (JKPCL).
Power Purchase Agreement for supply of 100 MW to Rajasthan
Under the Power Purchase Agreement signed today, SGEL will supply 100 MW Solar Power at a tariff of Rs. 2.62 per unit, from the project bagged by SGEL through competitive bidding for which Letter of Award was issued by RUVITL on October 6, 2023. The project is expected to generate 252 million units of energy in the first year and a cumulative energy of 5,866 million units over a period of 25 years. The project will be developed on 387.56 acres of land of Sambhar Salts Limited at Nawa, Rajasthan leased in favour of SGEL for a period of 28 years. The project will be developed on Build, Own and Operate (BOO) basis at a tentative cost of Rs. 550 Crores.
The Long Term Power Usage Agreement and Long Term Power Purchase Agreement for a cumulative supply of 600 MW solar power were signed in the presence of Chief Minister of Rajasthan Shri Bhajan Lal Sharma in Jaipur today. Deputy Chief Minister, Rajasthan, Smt. Diya Kumari; Power Minister of Rajasthan, Shri Heeralal Nagar; Union Coal Secretary, Shri Amrit Lal Meena; Chief Secretary, Government of Rajasthan, Shri Subhash Pant; Additional Chief Secretary, Power, Government of Rajasthan, Shri Alok; and Director (Projects), SJVN, Shri Sushil Kumar Sharma were also present on the occasion.
SJVN Limited, a Mini Ratna- Category-I and Schedule – ’A’ Central Public Sector Enterprise under the administrative control of the Ministry of Power, Government of India, commenced its journey on May 24, 1988 as a joint venture of the Government of India and the Government of Himachal Pradesh. A listed entity, SJVN has commissioned thirteen projects totalling 2,377 MW of installed capacity and 123 km Transmission Lines. SJVN has diversified into almost all forms of energy i.e. Hydro, Thermal, Wind, Solar, Power trading and Transmission.
Looking ahead, SJVN aims to grow by setting ambitious targets to achieve the Shared Vision of 25,000 MW installed capacity by the year 2030 and 50,000 MW installed capacity by the year 2040. This Shared Vision has been formulated in line with the commitment of the Government of India of having 50% of its power capacity from non-fossil-fuel-based energy sources by the year 2030.
