New Delhi: SJVN Limited on Friday said that it has signed a power purchase agreement (PPA) for 18 MW solar power with Bhakra Beas Management Board (BBMB).

According to an offcial statement, SJVN through its wholly-owned subsidiary SJVN Green Energy Limited (SGEL) has signed PPA with BBMB for 18 MW solar power. The project will be developed on the land parcels of BBMB in the states of Himachal Pradesh & Punjab. The project is scheduled to be commissioned by August 2024.

“The project shall be developed within 12 months on build own and operate basis and will involve an investment of around Rs 90 crores,” said SJVN Limited CMD NL Sharma.

He further added the project has been secured through open competitive bidding at a tariff of Rs 2.63/- in the e-reverse auction organised by Punjab Energy Development Agency. The project will generate 39.42 million units of energy in the first year of operation and the cumulative energy generation over a period of 25 years would be about 917 million units. The PPA for the power produced from the project has been signed with BBMB for 25 years. The commissioning of this project is expected to reduce 44,923 tons of carbon emission.

The PPA has been signed by SGEL's CEO Ajay Singh CEO and BBMB's Special Secretary Ajay Sharma in presence of NL Sharma. On this occasion, SJVN's Director (Personnel) Geeta Kapur, Director (Finance) Akhileshwar Singh, Director (Electrical) Sushil Sharma and BBMB's Member (P) AS Juneja, FA & CAO JS Kahlon and Director (P&D) Surjeet Singh were also present along with other senior officers of SJVN and BBMB.

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