State-owned SJVN Ltd on Thursday evinced interest to develop 5,000 MW of renewable energy projects in Punjab.
SJVN Chairman & Managing Director Nand Lal Sharma met Punjab Chief Minister Bhagwant Mann at Chandigarh and expressed keen interest in developing 5,000 MW renewable energy projects in the state, a company statement said.
Sharma proposed that SJVN will develop the 5000 MW renewable energy projects through solar projects, canal top solar projects and floating solar projects across the state by way of Joint Ventures formation and MoUs, among others.
The chief minister assured extending all possible support in the development of solar projects.
Sharma made a comprehensive presentation and apprised that SJVN a transnational company has 42,000 MW in its kitty, which includes a strong renewable portfolio.
“SJVN has outlined a roadmap for developing Renewable Energy in the State of Punjab due to exponential power demand as a result of various developmental activities. SJVN looks forward to being a Strategic Partner in this Growth Story of Punjab by harnessing Green Energy,” said Sharma.
Sharma further informed that SJVN is already developing a 100 MW solar power project in Punjab and the PPA (power purchase agreement) for the same was signed on June 23, 2022, with PSPCL.
The project is being developed at the cost of Rs 545 crore and will generate 245.28 MU (million units) in the first year, while the cumulative energy generation over a period of 25 years would be around 5,643.52 MU.
Recently the company has also signed an MoU with the Rajasthan government for developing 10,000 MW solar projects and parks.
SJVN is poised to contribute to the growth story of the nation by marching ahead to meet its shared vision of 5,000 MW by 2023, 25,000 MW by 2030 and 50,000 MW by 2040.