Shimla, Sep 2 (IANS): After signing a pact for developing 10,000 MW solar projects and parks in Rajasthan, public sector SJVN is now eyeing to tap renewable energy in Punjab, which holds a huge potential for generation from agro-residues, an alternative model of diversification, besides solar power.
SJVN Chairman and Managing Director Nand Lal Sharma met Punjab Chief Minister Bhagwant Mann in Chandigarh on Thursday and expressed keen interest in developing 5,000 MW renewable energy projects in the state.
Sharma told IANS that he proposed to develop solar energy projects either by way of joint ventures formation or memoranda of understand by setting up canal top projects and floating solar projects across the state.
Chief Minister Mann assured all possible support in the development of projects, he said.
Sharma made a comprehensive presentation and apprised that SJVN has 42,000 MW in its kitty, which includes a strong renewable portfolio.
"SJVN has outlined a roadmap for developing renewable energy in Punjab due to exponential power demand owing to developmental activities. SJVN looks forward to be a strategic partner in this growth story of Punjab by harnessing green energy," said Sharma.
Currently, SJVN is developing a 100-MW solar power project in Punjab with an outlay of Rs 545 crore and the power purchase agreement for this was signed with Punjab State Power Corp Ltd (PSPCL) on June 23.
The project will generate 245.28 million units (MUs) in first year, while the cumulative energy generation over a period of 25 years would be around 5,643.52 MU.
Recently, the company has also signed a pact with Rajasthan for developing 10,000 MW solar projects and parks.
SJVN aims to tap 5,000 MW by 2023 and 25,000 MW by 2030.
SJVN's maiden project, the 1,500 MW Nathpa-Jhakri Hydro Power Station, is located in Kinnaur district that started generation in 2004-05.
About the future plans, Sharma said the company is executing 27 projects in hydro, thermal, solar and wind sectors in India, Nepal and Bhutan in which six are under operation, eight under construction and 13 under survey and investigation.
Expanding the horizon of its business vertical in renewable energy, the SJVN has been entrusted with the responsibility of development of 880 MW solar park in Kaza by the Himachal Pradesh government.