SJVN’s subsidiary SGEL signs agreement for 100 MW solar project in Punjab

SJVN Limited’s wholly owned subsidiary, SJVN Green Energy Limited (SGEL), has entered into an agreement for balance of system (BOS) package for 100 MW solar project in Punjab.

SGEL has entered into agreement with BVG India Limited. This is SGEL’s first awarded BoS contract which amounts to Rs 1.33 billion. The contract also includes operation and maintenance of the solar photovoltaic plant for a period of three years. SJVN bagged the project through tariff based competitive bidding process, on build own and operate basis through e-reverse auction at a tariff of Rs 2.65 per unit. The commissioning of this project is expected to reduce 259,798 tonnes of carbon emission. The tentative cost of construction of this project is Rs 5.45 billion. The project is expected to generate 227 MU in the first year, while the cumulative energy generation over a period of 25 years would be around 5,302 MU. The power purchase agreement has already been signed between Punjab State Power Corporation Limited and SJVN for 25 years.