SJVN’s subsidiary, SJVN Green Energy, has awarded Bharat Vikas Group India (BVG India) the contract to install balance of system (BoS) package for a 100 MW solar project in Punjab.

The contract is worth ₹1.33 billion (~$16 million) and includes the operation and maintenance of the solar project for three years.

The BoS project encompasses all components of a photovoltaic system including the photovoltaic panels, wiring, switches, a mounting system, one or many solar inverters, a battery bank, and battery charger.

Chairman and Managing Director of SJVN Nand Lal Sharma said that SJVN Green Energy won the solar project through tariff-based competitive bidding on a build, own, and operate basis through e-reverse auction at a tariff of ₹2.65 (~$0.032) per unit.

“The power purchase agreement for the project has already been signed between SJVN and Punjab State Power Corporation for 25 years. The tentative cost for the project’s construction is ₹5.45 billion (~$66.3 million). The project is likely to generate 227 MU in the first year, while the cumulative energy generation over 25 years would be around 5,302 MU,” said Sharma.

SJVN Green Energy floated the tender in October 2022 for the supply of BoS and three years of comprehensive operation and maintenance for 100 MW of grid-connected solar power projects in Punjab. The projects of 50 MW each will be installed at two locations in the state.

Once commissioned, the project is expected to help mitigate 259,798 tons of carbon emissions annually and would accelerate the Government of India’s efforts to reduce the carbon footprint.

Sharma added, “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 2023-24, 25,000 MW by 2030 & 50,000 MW by 2040.”

Last month, SJVN secured a green financing loan of ₹9.15 billion (~$111.2 million) from the Japan Bank for International Cooperation to construct two solar power projects in India. The first project is the 90 MW Omkareshwar Floating Solar Power Project in Madhya Pradesh, and the second project is the 100 MW Raghanesda Solar Power Project in Gujarat.