In a significant step towards bolstering India’s renewable energy sector and contributing to the country’s vision of generating 500 GW of energy from non-fossil fuel sources by 2030, SJVN, a prominent power company, has recently signed Power Purchase Agreements (PPAs) for 300 MW Renewable Energy Projects.
The PPAs were executed by SJVN Green Energy Limited, a wholly owned subsidiary of SJVN, demonstrating the company’s commitment to clean and sustainable power generation.
The agreements include a 200 MW Solar Power Project and a 100 MW Wind Power Project, both poised to make a substantial impact on India’s renewable energy landscape.
The Solar Power Project, with an estimated development cost of Rs. 1200 crores, will be a 200 MW Ground Mounted Solar Project located in Maharashtra. SJVN secured this project at an impressive tariff of Rs. 2.90 per unit through a competitive bidding process in an e-reverse auction organized by Maharashtra State Electricity Distribution Company Limited (MSEDCL). The project is expected to be commissioned in December 2024 and is projected to generate 456 MU in its first year, with a cumulative energy generation of about 10,481 MU over the next 25 years. This significant capacity will contribute to the government’s mission of achieving net zero emissions by 2070, potentially offsetting 8,67,916 tonnes of carbon emissions.
Additionally, SJVN inked another important PPA with Solar Energy Corporation of India Limited (SECI) for the 100 MW Wind Power Project based in Delhi. With an approximate development cost of Rs. 750 crores, this project was secured at a competitive tariff of Rs. 2.90 per unit through an e-reverse auction. Expected to be commissioned in March 2025, the wind power project is estimated to generate around 289.27 MUs of clean energy in its first year and contribute to a cumulative energy generation of about 7231.75 MU over the next 25 years.
These power projects signify SJVN’s dedication to sustainable practices and align with Hon’ble Prime Minister Narendra Modi’s vision of promoting clean and green energy sources. By successfully executing these PPAs, SJVN continues to play a pivotal role in advancing India’s renewable energy drive, thereby contributing to a greener, more sustainable future for the nation.
The collective impact of these initiatives marks a significant milestone in the journey towards achieving a cleaner and more environmentally conscious energy landscape in India. With SJVN’s proactive involvement in renewable energy development, the company sets an inspiring example for other players in the industry, highlighting the immense potential and benefits of adopting clean energy sources for a sustainable future.
