SJVN to Develop 10,000 MW Solar Projects in Rajasthan

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In a major development in the renewable sector, mini-ratna SJVN will soon sign a Memorandum of Understanding (MoU) with the Rajasthan Government to develop 10,000 MW solar power projects in the next 5 years in Rajasthan.

A formal proposal was submitted by SJVN for the said project to the Rajasthan government. It was accepted and now it has been learnt that an MoU in this regard will be signed some time soon. SJVN is expected to establish 10,000 MW solar power projects and parks on the land banks to be allocated by Rajasthan Renewable Energy Corporation Limited.

Initially, a Letter of Intention (LOI) was submitted by SJVN. The Rajasthan Government accepted the proposal. These were exchanged with Ashok Gehlot, the Chief Minister of Rajasthan, and Chairman and Managing Director, SJVN, Nand Lal Sharma in the presence of other government officials.

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It was informed that an investment of Rs 50,000 crore is proposed by SJVN on developing these solar power projects. The company said that commercial production will commence in a phased manner. The power generated will be transmitted to the beneficiaries through nearest sub-stations. Power Purchase Agreements (PPA) for the generated energy will be signed through competitive tariff-based opportunities available in the market.

The managing director has said that SJVN has re-engineered its business model to give a major thrust to its solar power portfolio. He held that the key reason for this change is the commitment of the Union Government to achieve 500 GW of installed capacity from non-fossil fuel sources by 2030.

Sharma said, “In addition, 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.”

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“SJVN has proposed to develop solar power projects in Rajasthan as the state has the largest solar power potential in the country. It receives the highest solar radiation (5.72 Kwh/m2/day) and also has the highest number of more than 325 clear sunny days in a year. All these factors work in our favour of developing the projects,” he added.

Until now, the SJVN has added 2750 MW of renewable energy projects in its portfolio. The company aims to reach renewable capacity of 25,000 MW by 2030 and 50,000 MW by 2040.