An estimated investment of Rs 50,000 crore is proposed by SJVN on developing these projects
State-run renewable company SJVN Ltd is has submitted its intention to develop 10,000 MW solar power projects in next five years in Rajasthan.
According to a company statement, the Government of Rajasthan has accepted the proposal of SJVN and an MoU in this regard will be signed shortly.
An estimated investment of Rs 50,000 crore is proposed by SJVN on developing these projects, it stated.
The commercial production will commence in a phased manner and the power generated will be transmitted to the beneficiaries through nearest sub-stations.
Power purchase agreements for the generated energy will be signed through competitive tariff-based opportunities available in the market.
SJVN Chairman & Managing Director Nand Lal Sharma further added that these projects will usher in socio-economic development in the project areas and also open up avenues of direct and indirect employment to about 15,000 people.
Sharma said that driven by the commitment of Government of India to achieve 500 GW of installed capacity from non-fossil fuel sources by 2030, SJVN has re-engineered its business model and has given a major thrust to its renewable energy portfolio in a big way.
Sharma said that SJVN has 2,750 MW of renewable energy projects in its portfolio. He added that the company has recently upgraded its shared vision to installed capacity of 25,000 MW by 2030 and 50,000 MW by 2040.
