SJVN eyeing to develop 5,000 MW renewable energy projects in Punjab

After signing a pact for developing 10,000 MW solar projects and parks in Rajasthan, public sector SJVN is now eyeing to tap renewable energy in Punjab

Renewable energy, green, clean, solar power
SJVN Chairman and Managing Director Nand Lal Sharma and Punjab Chief Minister Bhagwant Mann expressed keen interest in developing 5,000 MW renewable energy projects in the state
IANS Shimla
2 min read Last Updated : Sep 02 2022 | 12:23 PM IST

After signing a pact for developing 10,000 MW solar projects and parks in Rajasthan, public sector SJVN is now eyeing to tap renewable energy in Punjab, which holds a huge potential for generation from agro-residues, an alternative model of diversification, besides solar power.

SJVN Chairman and Managing Director Nand Lal Sharma met Punjab Chief Minister Bhagwant Mann in Chandigarh on Thursday and expressed keen interest in developing 5,000 MW renewable energy projects in the state.

Sharma told IANS that he proposed to develop solar energy projects either by way of joint ventures formation or memoranda of understand by setting up canal top projects and floating solar projects across the state.

Chief Minister Mann assured all possible support in the development of projects, he said.

Sharma made a comprehensive presentation and apprised that SJVN has 42,000 MW in its kitty, which includes a strong renewable portfolio.

"SJVN has outlined a roadmap for developing renewable energy in Punjab due to exponential power demand owing to developmental activities. SJVN looks forward to be a strategic partner in this growth story of Punjab by harnessing green energy," said Sharma.

Currently, SJVN is developing a 100-MW solar power project in Punjab with an outlay of Rs 545 crore and the power purchase agreement for this was signed with Punjab State Power Corp Ltd (PSPCL) on June 23.

The project will generate 245.28 million units (MUs) in 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 a pact with Rajasthan for developing 10,000 MW solar projects and parks.

SJVN aims to tap 5,000 MW by 2023 and 25,000 MW by 2030.

SJVN's maiden project, the 1,500 MW Nathpa-Jhakri Hydro Power Station, is located in Kinnaur district that started generation in 2004-05.

About the future plans, Sharma said the company is executing 27 projects in hydro, thermal, solar and wind sectors in India, Nepal and Bhutan in which six are under operation, eight under construction and 13 under survey and investigation.

Expanding the horizon of its business vertical in renewable energy, the SJVN has been entrusted with the responsibility of development of 880 MW solar park in Kaza by the Himachal Pradesh government.

--IANS

vg/ksk/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :PunjabSJVNSJVN LtdRenewable energy in Indiarenewable energyrenewable projects

First Published: Sep 02 2022 | 12:23 PM IST

Next Story