Sunday, May 22, 2022

SJVN targeting to develop 10,000 MW solar power projects in Rajasthan

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New Delhi: Taking a Giga-scale leap in its renewable energy mission, SJVN Limited has submitted its intention to develop 10,000 MW solar power projects in Rajasthan in the next five years. "The Government of Rajasthan has accepted the proposal of SJVN Limited and MoU in this regard will be signed shortly," the green energy PSU said in a statement on Tuesday.

The letter of intention (LoI) by SJVN and further Acceptance Letter have been exchanged in the august presence of Chief Minister of Rajasthan Ashok Gehlot, by SJVN Limited’s Chairman & Managing Director (CMD) Nand Lal Sharma and Additional Chief Secretary (Power) Govt of Rajasthan and RRECL CMD Subodh Agarwal in Jaipur on Tuesday. On this occasion, senior officials of SJVN and Govt of Rajasthan were also present.

SJVN CMD informed that SJVN intends to establish 10,000 MW renewable power projects and parks on the land banks to be allocated by Rajasthan Renewable Energy Corporation Limited (RRECL) 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 nearest sub-stations. Power Purchase Agreements (PPA) 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.

Sharma further said that driven by the commitment of the government to achieve 500 GW of installed capacity from non-fossil fuel sources by 2030, SJVN has re-engineered its business model and has given a major thrust to its renewable energy portfolio in a big way. “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,” he said.

Sharma told that SJVN Limited has 2750 MW of Renewable Energy Projects in its portfolio. He further added that the company has recently upgraded its Shared vision to an installed capacity of 25,000 MW by 2030 & 50,000 MW by 2040. The revision of targets is a result of SJVN being awarded Mega Power Projects in India and abroad.

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