SJVN Green Energy Ltd (SGEL) announced it has received the letter of Intent (LOI) from Punjab State Power Corp. Ltd (PSPCL) for the procurement of 1.2 GW of solar power.
Out of the awarded capacity, SGEL can develop 1 GW of projects anywhere in the country and the balance of 200 MW in the state of Punjab. The solar projects are to be developed on a build-own-operate basis.
The project development cost for 1.2 GW capacity is estimated at INR 7,000 crore ($854 million).
Once operational, the projects are expected to generate 2,997 million units (MUs) in the first year and about 69,661 MUs over 25 years. These are set for commissioning by Dec. 2024.
PSPCL will sign a 25-year power purchase agreement with SGEL.
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