SJVN Green Energy Limited has received a letter of intent (LOI) from Uttrakhand Power Corporation Limited (UPCL) for supplying power from 200 MW solar project. UPCL will procure power at a rate of Rs 2.57 per unit from 1,000 MW Bikaner solar project in Rajasthan.
The project is being implemented under Central Public Sector Undertaking scheme and will receive support in the form of viability gap funding from the government. The power purchase agreement will be signed soon between the companies. The energy produced from the project will be used by government agencies, either directly or via distribution companies.
This announcement comes after the laying of foundation stone for the 1,000 MW Bikaner solar project in January 2023. With an investment outlay of Rs 54.91 billion, the project is expected to be operational by June 2024. Once commissioned, the Bikaner Solar Project is projected to produce 2,455 million units of clean energy within its initial year and an estimated cumulative output of approximately 56,838 million units over a period of 25 years. Additionally, it is anticipated to reduce carbon emissions by 2,785,077 tonnes.
In November 2023, SGEL signed a MoU with Ocean Sun, Norway for the advancement of emerging technologies within the clean energy sector. In the same month, SGEL issued a tender for manufacturing and supplying solar modules of 1,465 MWp for solar projects across India.