The company aims to reach an installed capacity of 12,000MW by 2026 and has set a long-term target of 50,000MW by 2040.
SJVN, a Central Public Sector Undertaking (CPSU) in the power sector, has received a Letter of Intent (LoI) from Uttarakhand Power Corporation Limited (UPCL) for the purchase of 200MW of solar power. It is a significant move under the Securities and Exchange Board of India (SEBI) regulations.
UPCL has agreed to buy this power at the rate of ₹2.57 per unit from SJVN’s ambitious 1,000MW Bikaner Solar Project. A power purchase agreement (PPA) is expected to be signed soon between SGEL and UPCL to finalize the details of this solar power allocation. This development is crucial not only for meeting solar Renewable Purchase Obligations (RPOs) but also for addressing power shortages.
The Bikaner Solar project, being developed in Rajasthan by SJVN Green Energy Limited (a wholly-owned subsidiary of SJVN), falls under the CPSU Scheme and is supported by viability gap funding from the Government of India. The electricity produced from this solar project is designated for use by government entities, either directly or through distribution companies (DISCOMS).
SJVN earlier received LoIs from Jammu and Kashmir Power Corporation Ltd (JKPCL) and Rajasthan Urja Vikas Nigam Ltd (RUVNL) for the purchase of solar power from the 1,000MW Bikaner Solar Project. Under the terms specified in the Letters of Intent (LoIs), JKPCL is set to procure 600 megawatts (MW), and RUVNL plans to purchase 500 MW of solar power.
SJVN is actively working to expand its renewable energy portfolio, aligning with the Indian government’s goals for a green energy transition. The company aims to reach an installed capacity of 12,000MW by 2026 and has set a long-term target of 50,000MW by 2040, positioning itself as a key player in India’s renewable energy landscape.