SHIMLA: 28 January, 2022 : The Bihar Renewable Energy Development Agency (BREDA) has issued Letter of Intent (LoI) for procurement of 200 MW of power at a discovered tariff of Rs.3.11 per kWh from Public sector SJVN from the company’s grid connected solar power project being implemented in the state of Bihar. LoI has been issued after approval of tariff by Bihar Electricity Regulatory Commission (BERC). SJVN will sign PPA soon in this regard.
Shri Nand Lal Sharma, Chairman & Managing Director informed that SJVN had bagged a grid connect solar power Project in Bihar through Open Competitive Tariff Bidding Process for quoted capacity of 200 MW @ INR 3.11 /Unit on Build Own and Operate (BOO) basis during e-Reverse Auction held in August 2021.
Shri N L Sharma further informed that the tentative cost of Construction and Development of this Project will be Rs. 1000 Crores. 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. The Power Purchase Agreement (PPA) shall be signed between Bihar State Power Holding Company (BSPHC) and SJVN for a long-term period of 25 years.
Shri N L Sharma told that presently, SJVN has a total Installed Capacity of 2016.5 MW which includes 2 Hydro Power Plants of 1912 MW and 4 Renewable Power Plants of 104.5 MW (Two Solar Plant of 6.9 MW and 2 Wind Plants of 97.6 MW). SJVN presently has 2550 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.
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. In September last year at the United Nations Climate Action Summit, Hon’ble Prime Minister Sh. 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 5000 MW by 2023, 25000 MW by 2030 &50000 MW by 2040.