SJVN bags 1,352 MW solar projects worth Rs 7,436 crore

State-owned power producer SJVN arm SJVN Green Energy has secured 1,352 MW solar power projects, entailing an investment of Rs 7,436 crore.

"SJVN has received Letter of Awards (LoA) for 1,352 MW Solar Power Projects to be developed through SJVN Green Energy Ltd (SGEL), a wholly-owned subsidiary of SJVN," a company statement said.

According to the statement, these LoAs have been received in the presence of Maharashtra Deputy Chief Minister Devendra Fadnavis, SJVN Director (Finance) Akhileshwar Singh and SGEL CEO Ajay Singh in Mumbai.

SJVN Chairman and Managing Director Geeta Kapur informed that these projects of 1,352 MW will be developed at various locations in Maharashtra -- Nashik, Solapur, Ahmednagar and Pune under Mukhya Mantri Saur Krushi Vahini Yojana 2.0.

The projects have been bagged by SGEL through a competitive bidding process in a tender floated by MSEB Agro Power Limited, Maharashtra. The total capacity of the tender was 7,000 MW and SGEL participated for 1,500 MW -- 500 MW in round one and 1,000 MW in round two.

The scheme was launched for the implementation of the largest Feeder Level Solarisation Scheme in India under the PM-KUSUM Scheme. The total investment for the development of these 1,352 MW Solar Power Projects will be about Rs 7,436 crore.

This will be the first contribution of SGEL towards the PM-KUSUM Scheme. These projects will be eligible for Central Financial Assistance, a maximum of up to 30 per cent of the project cost. The company is on rapid progression to achieve its shared vision of 25,000 MW by 2030 and 50,000 MW by 2040.

This shared vision has been formulated in sync with the commitment of the Centre to generate 50 per cent of energy from non-fossil fuel-based energy resources by 2030.