Satluj Jal Vidyut Nigam (SJVN) Limited has submitted a Letter of Intent to construct 10,000 MW of solar power projects in Rajasthan over the next five years. The Government of Rajasthan dutifully recognised the Letter of Intent and pledged its full cooperation. SJVN plans to develop 10,000 MW of renewable energy projects on land banks in Rajasthan, which will be awarded by Rajasthan Renewable Energy Corporation Limited. An investment of Rs 500 billion has been estimated for the development of these projects.
Commercial production will begin in stages, with the electricity generated being distributed to the beneficiaries through the nearest Sub Stations. Power Purchase Agreements for the generated energy rened through market-based competitive tariff opportunities. Furthermore, these projects will help SJVN achieve its shared goal of 5 GW by 2023, 25 GW by 2030, and 50 GW by 2040, contributing to the Government of India’s non-fossil fuel based energy capacity expansion objective of 500 GW by 2030.
In November 2021, SJVN Limited and Power Trading Corporation (PTC) India Limited signed an MoU to collaborate on the development of products for supplying round-the-clock power. As per the company’s statement, SJVN and PTC would collaborate to develop products for the delivery of renewable energy from SJVN’s projects combined with available market capacity for the supply of RTC power to beneficiaries. PTC will provide portfolio Management Services to SJVN.