Nand Lal Sharma, chairman and managing director, SJVN Ltd, shared recently that the Department of Investment & Public Asset Management (DIPAM) under India’s Ministry of Finance has agreed to the proposal of SJVN and the Ministry of Power to form joint venture (JV) companies for the development of renewable projects in India (Assam and Maharashtra).
SJVN will form a JV with Maharashtra State Power Generation Co. Ltd to develop 5 GW of RE projects.
SJVN Green Energy Ltd, the wholly owned subsidiary of SJVN, will form a JV with Assam Power Development Co. Ltd. The JV will develop 1 GW of RE projects in the state of Assam.
In a separate development, SJVN has announced the commissioning of a 75 MW Gurhah solar power plant located in the Jalaun district of Uttar Pradesh.
SJVN implemented the PV plant through its wholly owned subsidiary SJVN Green Energy Ltd, which had secured this project at a tariff of INR 2.98/kWh in an auction conducted by the Uttar Pradesh New & Renewable Development Agency.
Sharma informed that the project will generate 159.77 million units in the first year and the estimated cumulative energy generation over a period of 25 years will be around 3,716 million units. Power purchase agreement for the energy generated has already been signed with the Uttar Pradesh Power Corp. Ltd for 25 years.
“The project has been developed at a cost of INR 408.42 crores, while the expected revenues from energy generated is around INR 48 crore per annum,” said Sharma.
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