State-owned SJVN bags Rs 70 bn Solar Contract from PSPCL
POWER & RENEWABLE ENERGY

State-owned SJVN bags Rs 70 bn Solar Contract from PSPCL

State-owned SJVN announced that it secured a significant contract from Punjab State Power Corporation (PSPCL) for the development and procurement of 1,200 MW of solar power, requiring an investment of Rs 70 billion.

According to the company's statement, the subsidiary SJVN Green Energy (SGEL) will undertake the development of a 1,000 MW solar project anywhere in the country, while the remaining 200 MW will be developed within the state of Punjab.

The Letter of Intent (LOI) has already been received by SJVN from PSPCL for the procurement of 1,200 MW of solar power. Under the terms of the agreement, PSPCL will purchase 1,000 MW of energy produced from anywhere in India at a tariff of Rs 2.53 per unit, while the 200 MW generated within Punjab will be procured at a slightly higher tariff of Rs 2.75 per unit.

The development of these solar projects will involve an estimated investment of approximately Rs 70 billion, and they will be executed on a Build Own and Operate (BOO) basis.

The projects are expected to be commissioned within 18 months from the date of signing the power purchase agreement (PPA) and are slated for completion by the end of the following year. The PPA, with duration of 25 years, will soon be finalised and signed between PSPCL and SGEL. 

State-owned SJVN announced that it secured a significant contract from Punjab State Power Corporation (PSPCL) for the development and procurement of 1,200 MW of solar power, requiring an investment of Rs 70 billion.According to the company's statement, the subsidiary SJVN Green Energy (SGEL) will undertake the development of a 1,000 MW solar project anywhere in the country, while the remaining 200 MW will be developed within the state of Punjab.The Letter of Intent (LOI) has already been received by SJVN from PSPCL for the procurement of 1,200 MW of solar power. Under the terms of the agreement, PSPCL will purchase 1,000 MW of energy produced from anywhere in India at a tariff of Rs 2.53 per unit, while the 200 MW generated within Punjab will be procured at a slightly higher tariff of Rs 2.75 per unit.The development of these solar projects will involve an estimated investment of approximately Rs 70 billion, and they will be executed on a Build Own and Operate (BOO) basis.The projects are expected to be commissioned within 18 months from the date of signing the power purchase agreement (PPA) and are slated for completion by the end of the following year. The PPA, with duration of 25 years, will soon be finalised and signed between PSPCL and SGEL. 

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code