SJVN Green Energy, RUVITL ink historic solar power agreements in Rajasthan
SJVN Green Energy Limited (SGEL), a subsidiary of SJVN, has made a significant move towards bolstering India’s renewable energy sector by signing two crucial agreements with Rajasthan Urja Vikas and IT Services Limited (RUVITL). The agreements comprise a Power Usage Agreement (PUA) for 500 MW Solar Power and a Power Purchase Agreement (PPA) for 100 MW Solar Power, marking a strategic collaboration aimed at enhancing solar energy production in Rajasthan. The signing ceremony was graced by the Honorable Chief Minister of Rajasthan, Shri Bhajan Lal Sharma, along with other dignitaries, highlighting the state’s commitment to renewable energy.
Under these agreements, SGEL will supply a total of 600 MW of solar power to RUVITL for a duration of 25 years, emanating from the Bikaner Solar Power Project and the Rajasthan Solar Power Project. The Bikaner project, with a capacity of 1000 MW, stands as the country’s largest single-location solar project, expected to produce 2454.84 million units in its first year. This project, developed at Village Banderwala in Bikaner, boasts a development cost of Rs. 5,491 Crores and aims for commissioning by September 30, 2024. The successful commissioning of this project is anticipated to significantly reduce carbon emissions, aligning with India’s green energy goals.
The 100 MW Solar Power agreement, secured through competitive bidding, involves a project to be developed on land leased from Sambhar Salts Limited in Nawa, Rajasthan. This project promises to generate 252 million units in its initial year, with an expected total generation of 5866 million units over 25 years, further contributing to carbon emission reduction.
This collaboration underscores SJVN’s strategic efforts towards achieving its ambitious goal of 25,000 MW capacity by 2030 and 50,000 MW by 2040, in alignment with the Government of India’s target of sourcing 50% energy from non-fossil fuel-based resources by 2030. These agreements not only signify a major leap forward in India’s renewable energy landscape but also highlight the synergy between governmental bodies and corporations in driving the green energy transition.
The agreements between SJVN Green Energy Limited and Rajasthan Urja Vikas and IT Services Limited are a testament to the growing emphasis on sustainable energy solutions in India. By leveraging Rajasthan’s solar potential, these projects are poised to play a pivotal role in the country’s energy security and environmental sustainability, marking a significant step towards achieving national and global renewable energy targets.