+
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. 

Next Story
Infrastructure Transport

Study Launched for Hyderabad–Chennai Bullet Train Corridor

A new feasibility study has been initiated to examine the development of a high-speed rail corridor between Hyderabad and Chennai.The proposed project aims to cut travel time between the two cities to just over two hours, a significant reduction from the current 12-hour journey by conventional trains.The study is being carried out by RITES and forms part of the government’s broader plan to expand high-speed rail connectivity across key cities in southern India.News source: News Today Net..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?