State-owned hydropower producer SJVN Limited aims to develop 10 GW of solar power projects in the Indian State of Rajasthan with an estimated investment of INR 50, 000 crore (around US$6,683 million). The capacity is planned over a period of five years.
The developer has submitted a Letter of Intent (LoI) to develop these solar projects in Rajasthan. The Government of Rajasthan has assured the developer its full support for the same.
The commercial production will commence in a phased manner and the power generated will be supplied to the beneficiaries through the nearest substations. Power purchase agreements for the generated energy will be signed at prices determined through competitive tariff-based opportunities available in the market.
“SJVN has proposed to develop solar power projects in Rajasthan as the state has the largest solar power potential in the country. It receives the highest solar radiation (5.72 kWh/m2/day) and also has the highest number of more than 325 clear sunny days in a year. All these factors work in our favor of developing the projects,” SJVN stated.
These projects will assist SJVN in achieving its ambitious vision of 5 GW by 2023, 25 GW by 2030, and 50 GW by 2040 and simultaneously contribute towards the RE capacity addition target of 500 GW by 2030 set by the Government of India.
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