SJVN signs Rs 80k crore investment deal for solar power projects in UP

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SJVN on Friday signed investment agreements worth Rs 80,000 crore with the government of Uttar Pradesh for the implementation of three solar power projects in Uttar Pradesh during the 3rd inauguration of works in the presence of Prime Minister Narendra Modi.

The Public Sector Unit was also commended by the Government of Uttar Pradesh on the occasion of the Groundbreaking Ceremony of the Investors Gathering at Indira Gandhi Pratishthan, Lucknow to congratulate the major investing partners.

SJVN Finance Director Akhileshwar Kumar Singh says the public sector unit has won three grid-connected solar power projects in Uttar Pradesh through a competitive bidding process open with a combined capacity of 200 MW on a build-and-operate (BOO) basis.

The 75 MW solar power project is at Parasan village at Kalpi in Jalaun district while another 75 MW project is at Gurhah village at Orai in Jalaun and the third 50 MW project is at Gujarai village, Akbarpur in Kanpur Dehat district.

With these three solar power projects, SJVN is investing around Rs 1,057 Crores in Uttar Pradesh. The 75MW Parasan solar power project is expected to be commissioned in August 2022, and the remaining two projects are expected to be commissioned by May 2023. Once commissioned, these projects will cumulatively generate CU434 in one year. During the construction of these projects, employment opportunities equivalent to 53,000 man-days will be created.

SJVN has a total portfolio of approximately 31,500 MW and now has power projects of over 31 GW of capacity in operation and at various stages of development. These recent additions of new projects lead the company to achieve its common vision of 5,000 MW by 2023, 25,000 MW by 2030 and 50,000 MW of installed capacity by 2040, he added.

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