New Delhi: SJVN Limited has signed a long-term Power Purchase Agreement (PPA) for a 200 MW grid-connected-solar power project in Bihar. The PPA has been signed between SJVN and Bihar State Power Holding Company Limited (BSPHCL) along with its two DISCOMs i.e. North Bihar Power Distribution Company Ltd. (NBPDCL) and South Bihar Power Distribution Company Limited (SBPDCL).
The PPA has been signed in the august presence of Minister of Power Bihar Bijendra Prasad Yadav, Principal Secretary Energy and CMD of BSPHCL Sanjeev Hans, SJVN Limited's Director (Finance) AK Singh and SJVN Limited's Director (Electrical) Sushil Kumar Sharma.
SJVN CMD NL Sharma apprised that SJVN has bagged this project at a tariff of Rs 3.11 per unit through open competitive tariff bidding organised by Bihar Renewable Energy Development Agency (BREDA). Out of the total 200 MW, SJVN plans to develop a 125 MW solar power project at Kakanchor, District. Jamui and 75 MW Solar Power Project at Katoriya, District Banka. The power generated through these projects will be evacuated through New Jamuai and New Banka Substations respectively.
Sharma further stated that the tentative cost of construction and development of this project is Rs 1,000 crores. The project is expected to generate approximately 421 MU in the first year and 10,512 MU over a period of 25 years. The project is scheduled to be commissioned by November 2023.
Speaking on the occasion, Yadav appreciated the efforts of SJVN in energy development in Bihar where SJVN already has made its presence with solar and thermal power projects and the execution of transmission lines. He also stated that the Bihar Government is considering allotment of the 1,000 MW Kaimur Pumped Storage Project to SJVN. He further stated that SJVN must explore the possibilities of setting up floating solar power projects in the state of Bihar.
In the backdrop of Prime Minister Narendra Modi's vision to generate 500 GW of energy by 2030 from non-fossil sources, SJVN has embarked on an ambitious journey for the development of renewable energy. SJVN is adding significant renewable projects to its portfolio to pursue this vision. The company has a total portfolio of around 31,500 MW. These recent additions of new projects are leading the company towards actualizing its shared vision of 5,000 MW by 2023, 25,000 MW by 2030 and 50,000 MW installed capacity by 2040.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)