The foundation stone of SJVN’s largest solar project of 1000 MW capacity was laid by the President of India, Droupadi Murmu, at Jaipur, Rajasthan on 03 November.
Commissioning of this project would help in achieving Government of India’s Renewable target of 500 GW by 2030.
India has huge ambitions in energy transition and plans to have 500 GW of non-fossil fuel-based electricity installed capacity by 2030, so that cleaner fuel comprises of 50 per cent of the installed capacity mix by 2030.
The project is being developed on 5000 acres near village Banderwala in Bikaner district of Rajasthan which is one of the highest solar yield areas of the country.
The solar project shall be developed at a cost of Rs 5492 Crores by SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN Limited.
The project is scheduled to be commissioned by March 2024. The maximum usage charges have been fixed at Rs. 2.57 per unit, which will help in providing cheaper electricity to the consumers.
Further, the project shall use domestically manufactured solar Photovoltaic Cells and modules which will give push to Make in India Drive.
CPSU Scheme
SJVN has bagged the project under Central Public Sector Undertaking Scheme (Government Producer Scheme) through competitive bidding.
The scheme for setting up of Grid-Connected Solar PV Power Projects by the Central Public Sector Undertakings (CPSUs) and the Government of India organizations with Viability Gap Funding (VGF) is one of the measures taken by the Ministry of New and Renewable Energy (MNRE) to achieve the target of 100 GW solar energy by 2022.
There is a provision of domestic content requirement under the scheme which may give a fillip to domestic manufacturing.
As the scheme envisages to use domestically manufactured cells and modules, to cover cost difference between domestically produced solar PV cells and modules and imported solar PV cells and modules, VGF is provided under the Scheme.
The power generated by the project shall be for self-use or use by Government/Government entities, either directly or through Distribution Companies (DISCOMS).
Tranche – III
Under the Phase II of the scheme, a total of 12000 MW capacity was to be set up by the Government Producers with maximum permissible VGF kept at Rs 55 lakhs per MW.
The Indian Renewable Energy Development Agency Limited (IREDA) has been entrusted with the task of conducting the bidding amongst Government Producers for allocation of solar power project capacity under the Scheme, with VGF amount as a bid parameter to select project proponent.
The agency in September 2021 conducted VGF based bidding for 5000 MW capacity under Tranche III of the scheme and selected five applicants (see the image below).
The SJVN’s Bikaner project is part of the Tranche-III of CPSU Scheme for development of Grid connected Solar PV Power Project.
Further, IREDA on 15 December 2022 signed a historic loan agreement for Rs. 4444.71 crore with SJVN Green Energy Ltd for the 1000 MW project.
SJVN, a leading power CPSE under Ministry of Power, Govt of India has total project portfolio of around 45 GW and is developing 73 Hydro, Solar, Wind & Thermal projects in 13 states of India and in Nepal.
The company is aspiring for remarkable growth and has set Shared Vision of being 5 GW by 2023-24, 25 GW by 2030 & 50 GW Company by 2040.