SJVN and BBMB sign a PPA to establish an 18 MW solar project; SJVN shares reach 52-week high

11 Sep 2023 , 10:24 AM

Satluj Jal Vidyut Nigam (SJVN) Limited and Bhakra Beas Management Board (BBMB) inked a power purchase agreement (PPA) for the procurement of 18 MW of solar energy on Friday.

Nand Lal Sharma, the chairman and managing director of SJVN, was present when the deal was inked in Shimla.

The SJVN chairman said that SJVN signed a PPA with BBMB for 18 MW of solar power through its wholly-owned subsidiary SJVN Green Energy Limited (SGEL). The project would be built on BBMB-owned land parcels in Punjab and Himachal Pradesh. By August 2024, the project is expected to be completed.

He predicted that the project, which will cost 90 crores, will be completed in a year.

In the e-reverse auction run by Punjab Energy Development Agency, he claimed that the project had been won by open, competitive bidding at a price of $2.63.

The project will produce 39.42 million units of energy in its first year of operation, and over the course of 25 years, it will produce roughly 917 million units total. When the project is completed, the agreement’s 25-year term will result in a 44,923-tonne reduction in carbon emissions.

Nand Lal Sharma, the chairman and managing director of SJVN, was present when the deal was inked in Shimla.

The SJVN chairman said that SJVN signed a PPA with BBMB for 18 MW of solar power through its wholly-owned subsidiary SJVN Green Energy Limited (SGEL). The project would be built on BBMB-owned land parcels in Punjab and Himachal Pradesh. By August 2024, the project is expected to be completed.

He predicted that the project, which will cost 90 crores, will be completed in a year.

In the e-reverse auction run by Punjab Energy Development Agency, he claimed that the project had been won by open, competitive bidding at a price of $2.63.

The project will produce 39.42 million units of energy in its first year of operation, and over the course of 25 years, it will produce roughly 917 million units total. When the project is completed, the agreement’s 25-year term will result in a 44,923-tonne reduction in carbon emissions.

The shares of SJVN have reached their 52-week high rising 5.55% as of 9:35 am

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