Satluj Jal Vidyut Nigam (SJVN) Limited signed an 18-MW solar power purchase agreement (PPA) with Bhakra Beas Management Board (BBMB).

The agreement was signed in Shimla in the presence of SJVN chairman and managing director Nand Lal Sharma.

The SJVN chairman said SJVN, through its wholly-owned subsidiary SJVN Green Energy Limited (SGEL), signed a PPA with BBMB for 18 MW solar power. The project will be developed on land parcels of BBMB in Himachal Pradesh and Punjab. The project is scheduled to be commissioned by August 2024.

The project involving investment of ₹90 crore will come up within a year, he said.

He said the project has been secured through open competitive bidding at a tariff of Rs 2.63 in the e-reverse auction organised by Punjab Energy Development Agency.

The project will generate 39.42 million units of energy in the first year of operation and the cumulative energy generation over a period of 25 years would be about 917 million units.