SJVN unit to develop 1,200 MW solar project for Punjab
The project is expected to be commissioned by December 2024.
India’s SJVN wholly-owned subsidiary SJVN Green Energy Limited (SGEL) received a letter of intent from the Punjab State Power Corporation for the development of 1,200 megawatts of solar power, costing around $854.1m (INR70b).
In a disclosure, SJVN said of the project, 1,000 MW can be built anywhere in the country whilst the remaining 200 MW should be developed within Punjab.
The project which will be developed on a build, own and operate basis, could generate 2,997 million units (MU) of electricity in the first year and produce 69,661 MUs over 25 years.
It is expected to be commissioned by December 2024, a period of 18 months from the signing of a 25-year power purchase deal between the two parties.
SJVN added that the project would also reduce 3.43 million tonnes of carbon emissions.
The project raises SJVN/SGEL’s renewable portfolio to over five gigawatts (GW), in line with the company’s goal to reach 25 GW of generation capacity by decade-end.
$1 = INR81.96