SJVN on Friday signed a contract agreement to develop a 75 MW solar power project at Parasan Solar Park, Uttar Pradesh on an Engineering, Procurement and Construction (EPC) basis.

The contract was signed with M/s Solarworld Energy Solutions Pvt Ltd, Noida in the presence of Nand Lal Sharma, Chairman and Managing Director of SJVN, Geeta Kapur Director (Personnel) and Kartik Teltia, Director, Solarworld among other officials.

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Nand Lal Sharma informed that the EPC cost of the project is Rs 313.59 Crores and the project has been awarded to M/s Solarworld Energy Solutions Pvt Ltd with the project scheduled to be commissioned by August, 2022.

“SJVN bagged this project through competitive bidding held by Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) at a tariff of Rs 2.68 per unit for 25 years.

The project will generate 168.343 MU energy annually with capacity utilization factor (CUF) of 25.06 per cent in Parasan Solar Park that is located at Kalpi tehsil in Jalaun district of Uttar Pradesh,” he added.

He stated that with this allotment, SJVN now has 1,445 MW of solar projects under execution and these are scheduled to be commissioned by the 2023-24 financial year, which will be a gigantic leap for SJVN’s renewable energy capacity.

“The Union government has envisaged the vision of Power to All 24X7 and recently in United Nations Climate Change Conference (COP 26), Prime Minister Narendra Modi has vowed to to generate 500 GW of renewable energy by 2030. In line with the target set by the Government of India, SJVN has set its shared vision of capacity addition of 5,000 MW by 2023, 12,000 MW by 2030 and 25,000 MW by 2040,” he added.