SHIMLA: SJVN has signed an 18 MW Solar Power Purchase Agreement (PPA) with the Bhakra Beas Management Board (BBMB). The deal was sealed today in Shimla in the presence of Sh. Nand Lal Sharma, SJVN's Chairman & Managing Director.
SJVN, via its subsidiary SJVN Green Energy Limited (SGEL), will develop this solar project on BBMB's land in Himachal Pradesh and Punjab.
It's set to be operational by August 2024 and will require an investment of approximately Rs. 90 crores, operating under a Build Own and Operate framework.
The project secured this opportunity through open competitive bidding, winning at a tariff rate of Rs. 2.63 per unit during an e-reverse auction conducted by the Punjab Energy Development Agency.
Anticipated energy generation stands at 39.42 million units in the first year, with a cumulative 917 million units over 25 years. A 25-year Power Purchase Agreement with BBMB is in place, and this project is expected to reduce carbon emissions by 44,923 tons upon commissioning.
Key signatories: Sh. Ajay Singh, CEO of SGEL, and Sh. Ajay Sharma, Special Secretary of BBMB, officially signed the Power Purchase Agreement.
Present at the occasion was Geeta Kapur, Director (Personnel) of SJVN, Sh. Akhileshwar Singh, Director (Finance) of SJVN, Sh. Sushil Sharma, Director (Electrical) of SJVN, Sh. A.S. Juneja, Member (P) of BBMB, Sh. J.S. Kahlon, FA & CAO of BBMB, and Sh. Surjeet Singh, Director (P&D) of BBMB, along with senior officers from SJVN and BBMB.
This agreement underscores India's commitment to renewable energy and emissions reduction.
