Shimla: SJVN today added two feathers to its corporate cap.
SJVN has received a Letter of Intent from Uttarakhand Power Corporation Limited (UPCL) to purchase 200 MW of solar power. President of India laid Foundation for the 1000 MW solar plant in Bikaner.
UPCL intends to buy this power at a rate of Rs 2.57 per unit from SJVN's 1000 MW Bikaner Solar Project in Rajasthan, developed under the CPSU scheme with support from the Government of India. The power generated will be used by government entities.
The allocation of power will be governed by a Power Purchase Agreement to be signed between SJVN's subsidiary, SGEL, and UPCL.
This development aligns with the goal of meeting solar Renewable Purchase Obligation (RPO) targets and addressing power shortages.
In another development, the foundation stone was laid for the 1000 MW Bikaner Solar Project by Honorable President of India, Smt. Draupadi Murmu.
The project is expected to be commissioned by June 2024, with an investment of Rs 5491 crores.
It aims to generate 2455 million units of electricity in the first year and 56838 million units over 25 years, while reducing carbon emissions by 27,85,077 tonnes.
SJVN is dedicated to expanding its renewable energy portfolio, with a mission to achieve 12,000 MW by 2026 and a shared vision of 50,000 MW of installed capacity by 2040.