Shimla: SJVN Green Energy Limited (SGEL) has secured its first Balance of System (BOS) contract worth Rs. 132.64 crores for a 100 MW solar project in Punjab. The BOS package was awarded to SGEL after a tariff-based competitive bidding process on a Build Own and Operate (BOO) basis. BVG India Limited will be the supplier for the project and will also manage the operation and maintenance of the solar PV plant for three years.
The solar project is expected to reduce carbon emissions by 259,798 tonnes and generate 227 MU in the first year, with a cumulative energy generation of around 5,302 MU over 25 years. The project’s construction cost is estimated at Rs. 545 crores, and SJVN has signed a 25-year Power Purchase Agreement (PPA) with the Punjab State Power Corporation Limited (PSPCL).
Nand Lal Sharma, Chairman and Managing Director of SJVN, said this project aligns with the Government of India’s target of generating 500 GW of renewable energy by 2030. He also added that SJVN has set its Shared Vision of capacity addition of 5000 MW by 2023-24, 25000 MW by 2030, and 50000 MW by 2040, in line with the goal of providing affordable and green power to all 24×7.
The project’s successful bidding and awarding process demonstrates the company’s commitment to the sustainable development of the power sector in India. With this contract, SJVN has taken a significant step towards its vision of becoming a leading player in the renewable energy space in the country.
