SJVN Green Energy Secures Long-Term PUA with Rajasthan Urja Vikas and IT Services Limited
Under the terms of the agreements, SGEL has committed to supply a total of 600 MW of solar power to Rajasthan over a period of 25 years.
March 11, 2024. By Abha Rustagi
Under the terms of the agreements, SGEL has committed to supply a total of 600 MW of solar power to Rajasthan over a period of 25 years. The agreements comprise a Long-Term Power Usage Agreement (PUA) for 500 MW of solar power and a Long-Term Power Purchase Agreement (PPA) for an additional 100 MW of solar power.
The Power Usage Agreement entails the supply of 500 MW of solar power from the Bikaner Solar Power Project, a monumental undertaking by SGEL. Chairperson and Managing Director of SJVN, Geeta Kapur, disclosed that SGEL will deliver this power at a competitive tariff of INR 2.57 per unit.
The Bikaner Solar Power Project, nestled in the village of Banderwala, Rajasthan, is slated to be the country’s largest single-location solar project. With an estimated generation of 2,454.84 million units of energy in its inaugural year and a cumulative energy output of approximately 56,474 million units over 25 years, this project represents a significant leap towards sustainable energy solutions. The project, valued at INR 5,491 crores, is on track for commissioning by September 30, 2024.
Additionally, SGEL has clinched a Power Purchase Agreement to supply 100 MW of solar power from another project secured through competitive bidding. This agreement stipulates a tariff of INR 2.62 per unit. The project, expected to generate 252 million units of energy in its first year and a cumulative energy output of 5,866 million units over 25 years, will be situated on 387.56 acres of land leased from Sambhar Salts Limited at Nawa, Rajasthan. The project, operating under a Build, Own, and Operate (BOO) model, carries an estimated cost of INR 550 crores.
The signing ceremony, held in the presence of Rajasthan Chief Minister Bhajan Lal Sharma, witnessed the participation of key dignitaries including Deputy Chief Minister Diya Kumari, Power Minister Heeralal Nagar, Union Coal Secretary Amrit Lal Meena, Chief Secretary Subhash Pant, Additional Chief Secretary (Power) Alok, and Director (Projects) of SJVN, Sushil Kumar Sharma.
SJVN remains committed to its targets of achieving 25,000 MW installed capacity by 2030 and 50,000 MW installed capacity by 2040, in alignment with the Government of India's vision of deriving 50 percent of power capacity from non-fossil-fuel-based sources by 2030.
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