SJVN has agreed to install a 75-megawatt (MW) solar power project at the Parasan Solar Park in Uttar Pradesh for Rs 313.59 crore with Noida-based Solarworld Energy Solutions Pvt Ltd.

“SJVN entered into a contract agreement with Solarworld Energy Solutions Private Ltd, Noida, for the development of a 75 MW (AC) solar power project at Parasan Solar Park in Uttar Pradesh on an engineering-procurement-construction (EPC) basis with subsequent O&M (operation and maintenance) for three years,” according to a statement. SJVN Chairman and Managing Director Nand Lal Sharma were present at the signing of the deal.

SJVN General Manager (Electrical Contracts) S K Sood and Solarworld Director Kartik Teltia signed the agreement. The project’s EPC cost is Rs 313.59 crore, according to Sharma, and the project has been awarded to Solarworld Energy Solutions Pvt Ltd. The project is expected to be completed in August of 2022. SJVN was awarded the project after a competitive bidding process conducted by the Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA) at a tariff of Rs 2.68 per unit for 25 years, according to him. With a capacity utilization factor (CUF) of 25.06 percent, the project will generate 168.34 million units (MU) of energy per year.

The Parasan Solar Park is located in the tehsil Kalpi, district Jalaun, Uttar Pradesh, near Kanpur. With this allotment, SJVN currently has 1,445 MW of solar projects under construction, according to Nand Lal Sharma. All of these solar projects are expected to be completed by the financial year 2023-24, which will represent a significant increase in SJVN’s renewable capacity. Sharma went on to say that the Indian government has a vision of ‘Power to All, 24 hours a day, 7 days a week.’ SJVN has set a common aim of adding 5,000 MW of capacity by 2023, 12,000 MW by 2030, and 25,000 MW by 2040, by the Government of India’s target.