Punjab State Power Corporation Limited (PSPCL) sent a letter of intent (LOI) to SJVN Ltd through its wholly owned subsidiary, SJVN Green Energy Limited, about the purchase of 1200 MW of solar power.

According to the RFS guidelines, SGEL will create a 1000 MW plant anywhere in the nation and balance 200 MW in the state of Punjab. The Build Own and Operate (BOO) model will be used for the development of the solar projects. The approximate cost of building or developing a 1200 MW project is INR 7000 Cr.

The projects are anticipated to produce 2997 MUs in the first year and approximately 69661 MUs in total during a 25-year timeframe.

As per RfS the Project shall be commissioned in a period of 18 Months from the date of signing of PPA and expected to be commissioned by Dec.2024.The PPA shall be signed between PSPCL and SGEL for 25 years.

The commissioning of this Project is expected to reduce 34.2 Lakhs Tonnes of carbon emission and would contribute in GoI mission of reduction in carbon emission.