State-owned SJVN Ltd has signed an agreement with Bhakra Beas Management Board (BBMB) to set up an 18 megawatt (MW) solar power project at an investment of Rs 90 crore.
Both entities signed a power purchase agreement (PPA) in this regard on Friday, SJVN said in a statement.
SJVN, through its wholly-owned subsidiary SJVN Green Energy Limited (SGEL), signed a PPA for 25 years with BBMB for 18 MW solar power. The project will be developed on the land parcels of BBMB in Himachal Pradesh and Punjab, SJVN CMD Nand Lal Sharma said.
The project is scheduled to be commissioned by August 2024, he said, adding commissioning of the project is expected to reduce 44,923 tons of carbon emission annually.
"The project shall be developed within 12 months on a Build, Own and Operate basis and will involve an investment of around Rs 90 crore," Sharma said.
The project has been secured through open competitive bidding at a tariff of Rs 2.63 per unit in the e-reverse auction organised by the Punjab Energy Development Agency, and the cumulative energy generation over a period of 25 years would be about 917 million units, he noted.
