The Aryavarth Express
Agency(Rajasthan): In a significant stride towards bolstering renewable energy capacity, SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN, formalized Long Term Power Usage and Purchase Agreements totaling 600 MW of solar power with Rajasthan Urja Vikas and IT Services Limited (RUVITL) on March 10, 2024, in Jaipur. These agreements, structured for a period of 25 years, mark a notable advancement in the nation’s shift towards sustainable energy sources.
Under the Power Usage Agreement, SGEL commits to supplying 500 MW of solar power at a competitive tariff of Rs. 2.57 per unit from its ambitious Bikaner Solar Power Project. This project, which is poised to be the largest of its kind in a single location within the country, is being developed at Banderwala village in Bikaner, Rajasthan. With an initial production of 2,454.84 million units in its first year, the project is expected to contribute a cumulative energy output of approximately 56,474 million units over its 25-year span. The Bikaner Solar Power Project, with a development cost of Rs. 5,491 Crores, is on track for commissioning by September 30, 2024.
This Power Usage Agreement ensures SGEL’s full capacity tie-up for the 1,000 MW project, including 200 MW designated for Uttar Pradesh Power Corporation Limited (UPPCL) and 300 MW for Jammu and Kashmir Power Corporation Limited (JKPCL).
Furthermore, the Power Purchase Agreement details the supply of 100 MW solar power at Rs. 2.62 per unit from a project secured by SGEL through competitive bidding. This project is slated to generate 252 million units in its initial year and accumulate 5,866 million units across 25 years. The development will take place on 387.56 acres of land leased from Sambhar Salts Limited at Nawa, Rajasthan, for a duration of 28 years, with an estimated cost of Rs. 550 Crores.
The agreements were signed in the presence of notable dignitaries, including Rajasthan’s Chief Minister Shri Bhajan Lal Sharma, emphasizing the collaborative efforts between SJVN and the state of Rajasthan towards achieving India’s renewable energy goals.
SJVN Limited, recognized as a Mini Ratna- Category-I and Schedule – ’A’ PSU under the Ministry of Power, Government of India, has consistently expanded its portfolio across various energy forms, including Hydro, Thermal, Wind, Solar, Power trading, and Transmission. With the ambitious vision of achieving 25,000 MW installed capacity by 2030 and 50,000 MW by 2040, SJVN aligns with India’s commitment to deriving 50% of its power capacity from non-fossil-fuel sources by 2030, paving the way for a greener and more sustainable future.