On August 14, Monday, SJVN Ltd, a government-owned company, announced that its subsidiary, SJVN Green Energy Ltd (SGEL), has inked two pacts with Punjab State Power Corporation (PSPCL) for the supply of 1,200 MW of solar power generated from its projects.
Under these agreements, SGEL has executed two power purchase agreements (PPAs) with PSPCL. One agreement pertains to a 200 MW Solar Project to be constructed anywhere in Punjab, while the other agreement is for a 1,000 MW Solar Project that will be developed across the country.
The development of these projects, which is set to take place within the next 18 months, will follow the Build Own and Operate model. The investment required for these projects is estimated to be approximately INR 7,000 crores. PSPCL issued the letter of intent for these 1,200 MW projects on July 21, 2023.
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