SJVN to build 125 MW solar projects in Uttar Pradesh

SJVN to build 125 MW solar projects in Uttar Pradesh

State-run SJVN said on Tuesday that it has received letters of intent to build solar power projects of cumulative 125 mega-watt (MW) capacity in Uttar Pradesh. As much as 75 MW of the plants will be built in Jalaun district, while the remaining capacity will be set up in the Kanpur Dehat district. The Uttar Pradesh Power Corporation will buy power from these projects for 25 years at 2.98/unit.

With this allotment, SJVN now has 1,670 MW of solar power projects which are scheduled to be commissioned in FY24. “With this allotment, SJVN now has 1,670 MW of solar power projects under different stages of execution,” SJVN chairman and managing director Nand Lal Sharma said. As much as 59.9% of the shares of SJVN — earlier known as the Satluj Jal Vidyut Nigam — is held by the Central government while the state government of Himachal Pradesh owns 26.9% of the company. Around 2,017 MW of SJVN’s power capacity is currently under operation and it aims to become a 12,000 MW company by 2030.

The Central Electricity Regulatory Commission has recently granted trading license to the company as it aims to be a “one-stop source” for any generator and consumer wanting to trade power in the country. By December-end, the company had utilised 90% of its FY22 capex target of4,510 crore. For FY23, it is aiming a capex of `8,000 crore. SJVN clocked its highest ever quarterly power generation of 1,480 million units in Q3FY22.


Check the source here –Source, Financial Express.