SJVN targeting to develop 10,000 MW Solar Power Projects in Rajasthan – EQ Mag Pro
An estimated investment of Rs 50, 000 crores is proposed by SJVN on developing these Projects.
New Delhi: In Compliance with regulation 30 read with Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015, this is to inform you that SJVN Limited (“SJVN”) has submitted a Letter of Intent (LoI) to develop solar power projects to the tune of 10,000 MW in next five years in the state of Rajasthan. The Letter of Intent (LOI) was duly acknowledged by the Government of Rajasthan with assurances of full support for the same.
The LoI was submitted in the august presence of Hon’ble Chief Minister of Rajasthan Sh Ashok Gehlot, by Chairman & Managing Director, SJVN Sh Nand Lal Sharma. Additional Chief Secretary, Power, Govt. of Rajasthan & CMD RRECL Sh Subodh Agarwal and other senior officials of SJVN & Govt. of Rajasthan were also present on this occasion. SJVN intents to establish 10,000 MW Renewable Power Projects/Parks on the Land Banks to be allocated by Rajasthan Renewable Energy Corporation Limited in the State.
Sh Nand Lal Sharma, CMD, SJVN informed that SJVN intents to establish 10,000 MW Renewable Power Projects/Parks on the Land Banks to be allocated by Rajasthan Renewable Energy Corporation Limited in the State. An estimated investment of Rs 50,000 crore is proposed by SJVN on developing these Projects. The commercial production will commence in a phased manner and the power generated will be transmitted to the beneficiaries through the nearest Sub-Stations. Power Purchase Agreements for the generated energy will be signed through competitive tariff-based opportunities available in the market. He further added that these Projects will usher in Socio-Economic development in the Project areas and also open up avenues of direct and indirect employment to about 15,000 people.
SJVN has proposed to develop Solar Power Projects in Rajasthan as the state has the largest solar power potential in the country. It receives the highest solar radiation (5.72 Kwh/m2/day) and also has the highest number of more than 325 clear sunny days in a year. All these factors work in our favour of developing the Projects.
These projects will assist SJVN in achieving its ambitious shared vision of 5000 MW by 2023, 25000 MW by 2030, and 50000 MW by 2040 and simultaneously contribute towards the RE capacity addition target of 500 GW by 2030 set by the Government of India.
Source: psuconnect
