HomeRenewable energy ›SJVN Secures LoI for 200 MW Solar Power Purchase in Uttarakhand

SJVN Secures LoI for 200 MW Solar Power Purchase in Uttarakhand

Ambitious Bikaner Solar Project to Provide 200 MW of Solar Power at INR 2.57 per Unit to UPCL.

November 08, 2023. By News Bureau

In a significant development under the purview of the Securities and Exchange Board of India (SEBI) regulations, SJVN, a prominent Central Public Sector Undertaking (CPSU), has received a Letter of Intent (LoI) that promises to reshape the energy landscape in Uttarakhand. The LoI, issued by the Uttarakhand Power Corporation Limited (UPCL), marks a pivotal milestone in India's renewable energy journey.
Under the terms of the LoI, UPCL is set to acquire 200 MW of solar power at an attractive tariff rate of INR 2.57 per unit from SJVN's ambitious 1,000 MW Bikaner Solar Project. This ground breaking solar initiative, being developed through SJVN Green Energy Limited, a wholly-owned subsidiary of SJVN, is strategically located in Rajasthan.

The project operates under the Central Public Sector Undertaking (CPSU) Scheme and enjoys critical financial support through viability gap funding from the Government of India.
What sets this project apart is its designated focus on catering to government entities, ensuring direct usage or distribution through DISCOMS (distribution companies). This strategic allocation of solar power is expected to bolster the state's energy infrastructure and contribute significantly to the overall power generation capacity.
The formalization of this allocation will take place through a forthcoming Power Purchase Agreement (PPA) between SJVN Green Energy Limited (SGEL) and UPCL. This agreement not only propels the fulfilment of solar Renewable Purchase Obligations (RPOs) but also plays an instrumental role in addressing power deficits, ultimately ensuring a reliable and sustainable energy supply.
This development underscores SJVN's unwavering commitment to expanding its renewable energy portfolio in alignment with the Indian government's green energy transition objectives.

With a mission to achieve 12,000 MW of installed capacity by 2026 and a shared vision of an impressive 50,000 MW by 2040, SJVN is poised to play a pivotal role in shaping India's renewable energy future, contributing to a greener and more sustainable power sector for the nation.
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