SJVN Gets LoI from BREDA to Supply 200 MW Solar Power

State-owned hydroelectric power generator SJVN has received a Letter of Intent (LoI) from Bihar Renewable Energy Development Agency (BREDA) for procurement of 200 MW of power at a discovered tariff of Rs 3.11 per kWh.

In this regard, the LoI has been issued to SJVN after the approval of the tariff by the Bihar Electricity Regulatory Commission (BERC).

As per the contract, the company will supply clean electricity from its grid-connected solar power project being implemented in the state of Bihar.
However, the power purchase agreement (PPA) is expected to be signed by SJVN soon.

Commenting on winning the project, Nand Lal Sharma, Chairman & Managing Director of SJNV said that “SJVN had bagged a grid connect solar power project in Bihar through Open Competitive Tariff Bidding Process for quoted capacity of 200 MW @ Rs 3.11 /Unit on Build Own and Operate (BOO) basis during the e-Reverse auction held in August 2021.”

The tentative cost of construction and development of this project will be Rs 1,000 crore, Sharma added.

Also, the project is expected to generate 420.48 MU in the 1st year and the project’s cumulative energy generation over a period of 25 years would be about 10512 MU.

He further added that “the PPA shall be signed between Bihar State Power Holding Company (BSPHC) and SJVN for a long-term period of 25 years.”

Sharma also told that presently, SJVN has a total installed capacity of 2,016.5 MW which includes 2 hydropower plants of 1,912 MW and 4 renewable power plants of 104.5 MW (2 solar plants of 6.9 MW and 2 wind plants of 97.6 MW).

SJVN presently has 2,550 MW of solar projects under execution in various locations.

He stated that all of these solar projects will be commissioned by 2023, and will be a gigantic leap for SJVN’s renewable capacity. 

The Government of India has envisaged the vision of Power to All 24X7 and has set a target of 175 GW of Renewables, out of which 100 GW is to be met through Solar by 2022.

Last year at the United Nations Climate Action Summit, Prime Minister Narendra Modi had announced increasing the renewable energy target to 450 GW by 2030 from 175 GW by 2022.

In line with the target set by the Government of India, SJVN has upgraded its Shared Vision of generating 5,000 MW by 2023, 25,000 MW by 2030 and 50,000 MW by 2040, Sharma said.