SJVN to Invest Rs. 6,000 Crore in 1,000 MW Assam Floating Solar Projects
Satluj Jal Vidyut Nigam (SJVN) Ltd., a joint venture between GoI and Government of Himachal Pradesh, will be investing about Rs. 6,000 crore in Assam to develop multiple floating solar projects with a collective power capacity of 1,000 MW.
SJVN Green Energy Signs MoU with Assam Power Distribution Company
In a stock filing dated 17th October 2022, SJVN stated that its wholly-owned subsidiary, SJVN Green Energy Limited (SGEL), has signed a Memorandum of Understanding (MoU) with Assam Power Distribution Company Limited (APDCL) for development of the aforementioned floating solar projects.
SJVN stated that a Joint Venture (JV) between SGEL and APDCL will execute and maintain these projects.
SGEL-APDCL JV’s Projects to Generate Clean Energy, Employment
SGEL-APDCL JV’s floating solar projects in Assam will generate about 50,425 Million Units (MU) of clean energy collectively over 25 years. During the first year of operation, these projects are expected to generate 2,192 MU of solar energy. These floating solar projects will be spread over a total area of 4,500 ha.
These projects are expected to reduce carbon emissions by 1,07,383 tonne CO2 equivalent in the first year of operation and about 24,70,732 tonne CO2 equivalent over 25 years. Moreover, these projects will employ 4,000 people directly or indirectly during their construction and operation phases.
Assam Government has set a target to develop about 4,000 MW capacity in the next three to four years. SGEL-APDCL JV’s solar projects will be a step towards fulfilling this target.
Other Major Floating Solar Projects to be Developed by SJVN
Major floating solar projects under development by SJVN include a 100 MW floating solar project in Omkareshwar, Madhya Pradesh. This project is a part of Rewa Ultra Mega Solar Ltd.’s (RUMSL) planned 600 MW Omkareshwar floating solar project.
As per SJVN’s Annual Report for 2021-22, the company has won a 100 MW floating solar project in Punjab through competitive bidding. The company has signed a Power Purchase Agreement (PPA) with Punjab State Power Corporation Limited (PSPCL) at Rs. 2.65 per unit for the same. Currently, this project is at tendering stage.
About SJVN: Satluj Jal Vidyut Nigam was established in 1988. The company has a portfolio of about 40,998 MW, out of which 2,016.5 MW is under operation, 4,526 MW is under construction, and 16,749 MW is in the pre-construction stage. The remaining 17,707 MW capacity projects have been identified or are under allotment.