State-owned hydropower producer Satluz Jal Vidyut Nigam Ltd (SJVN) has won a 100 MW grid-connected solar power project from the Punjab State Power Corporation Ltd (PSPCL). The project, to be set up on a build-own-operate (BOO) basis, will be constructed with an investment of around INR 545 crore.
SJVN secured the project at INR 2.69/kWh tariff through tariff-based competitive bidding followed by reverse auction. When operational, the project is expected to generate 245.28 million units (MU) in the first year and around 5643.52 MU over a period of 25 years.
PSPCL shall sign a 25-year power purchase agreement with SJVN for 25 years.
SJVN is executing hydro, thermal, solar and wind projects in India, Nepal, and Bhutan. The company aims to achieve 5 GW of installed capacity by 2023, 12 GW by 2030, and 25 GW by 2040. It clocked its highest ever profit before tax (PAT) of INR 2,168.67 crore in FY 2020-21. The company’s net profit increased to INR 1,633.04 crore in 2020-21 from INR 1,557.43 crore in 2019-20 and the earnings per share (EPS) increased from INR 3.96 per share in 2019-20 to INR 4.16 per share in 2020-21.
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