Satluj Jal Vidyut Nigam (SJVN), Government owned power producer, has announced that it will invest more than Rs 1,000 crore in three solar energy projects in Uttar Pradesh.
Two solar projects with a combined capacity of 75 MW will be developed in the villages of Parasan and Gurha in the district of Jalaun, according to Nand Lal Sharma, Chairman and Managing Director of SJVN. The third 50 MW solar power project will be built at village Gujarai in Kanpur Dehat. SJVN is investing roughly Rs 1,057 crore in Uttar Pradesh with these three solar power projects, he noted.
On Friday, the company issued a statement, “SJVN has been felicitated by the Uttar Pradesh government for investing more than Rs 1,000 crore in the state during the 3rd Investor Meet Ground Breaking ceremony. The event was chaired by Prime Minister Narendra Modi.”
The Rising Role of SJVN
SJVN, India’s largest hydropower company, has a portfolio of around 17GW and operates in nine states. It also has operations in Nepal and Bhutan, two adjacent nations. SJVN Green Energy Ltd (SGEL) was formed in April to focus on renewable energy, which includes solar, wind, hydro, biomass, BESS, and hydrogen. The headquarter of SJVN is a joint venture between the Central Government and the Himachal Pradesh Government. SJVN has signed a deal with the Rajasthan state government to build 10000 MW of electricity, bringing in over Rs 50,000 crore.
The Renewable Lag in Uttar Pradesh
Uttar Pradesh is well behind its 2022 renewable energy target of 14.7 GW, according to a joint analysis by the Institute for Energy Economics and Financial Analysis (IEEFA). In October 2021, the state had only 4.3 GW of renewable energy installed capacity, which was below 30% of the target. The state is expected to add 10.7 GW of solar energy-only power.
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Resource: Saur Energy