SJVN receives LoI from Uttarakhand for 200 MW Solar Power

As per the details of LoI, UPCL intends to purchase 200 MW of power at a tariff of Rs 2.57 per unit from SJVN’s 1000 MW Bikaner Solar Project
A file photo of SJVN CMD Nand Lal Sharma
A file photo of SJVN CMD Nand Lal SharmaPSU Watch

New Delhi/ Shimla: SJVN has just added another feather to its hat. The category-A miniratna has received a Letter of Intent for purchase of 200 MW solar power from Uttarakhand Power Corporation Limited (UPCL). "UPCL intends to purchase 200 MW power at a tariff of Rs 2.57 per unit from SJVN’s 1000 MW Bikaner Solar Project", said Nand Lal Sharma, Chairman & Managing Director of SJVN in an official statement issued Tuesday.

"The solar project is being developed through SGEL, a wholly owned subsidiary of SJVN in Rajasthan under CPSU Scheme, with viability gap funding support from the Government of India. The power generated from the project shall be used by government entities, either directly or through DISCOMS", he added.

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Nand Lal Sharma further said that the allocation of the solar power from the project will be as per Power Purchase Agreement to be signed between SGEL and UPCL in the near future. This development will contribute towards meeting solar RPO targets and addressing the power deficit.

Earlier this year on January 03, the President of India, Smt. Droupadi Murmu had laid the foundation stone of 1000 MW Bikaner Solar Project. The project is slated for commissioning by June 2024 and involves an investment of Rs. 5491 crores. The project is expected to generate 2455 million units in the first year and about 56838 million units cumulatively over a period of 25 years, while reducing carbon emissions by 27,85,077 tonnes.

A file photo of SJVN CMD Nand Lal Sharma
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SJVN, a leading Power CPSU, is dedicated to expand its renewable energy portfolio in line with Government of India's green energy transition target. The company has set a Mission of 12,000 MW by 2026 and Shared Vision of 50,000 MW installed capacity by 2040.

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