State-owned hydropower producer SJVN Limited has secured Letter of Intent from the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) to build a cumulative 125 MW of grid-connected solar projects in the Indian state of Uttar Pradesh. Out of this, 75 MW is to be developed near Gurhah village in the Jalaun district and 50 MW at Gujrai in the Kanpur Dehat district.
SJVN won the capacity through tariff-based competitive bidding by quoting a price of INR 2.98/kWh (US$0.040/kWh) for both these projects. The power generated from these projects will be procured by UPNEDA for 25 years.
With the tariffs of solar and wind power projects going down, the State-owned hydropower producer sees development of hydro power projects, its core strength, becoming increasingly less viable. The company, therefore, is looking to increase its wind and solar energy project portfolio manifolds as it aims to become a 5 GW company by 2023, 12 GW by 2030 and 25 GW by 2040. It has been continuously looking for opportunities to set up solar, wind, hybrid (solar plus wind), floating solar, and ocean hybrid projects pan India through competitive bidding processes.
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