SJVN Limited has invited expressions of interest from independent power producers, power generating companies, developers, state electricity boards, and lenders for offering their hydro, solar, and wind projects in India for acquisition.

The last date to submit the applications for the first tranche is May 31, 2021. Bids will be opened on June 1.

SJVN is a joint venture between the government of India and the Himachal Pradesh government. Predominantly a hydropower producer, SJVN is aggressively looking to expand its solar and wind power capacity. In July 2020, SJVN had issued a notice inviting expressions of interest from interested parties to offer their solar and hydropower projects for acquisition.

The present installed capacity of SJVN is 2,015 MW comprising 1,912 MW of hydropower, 97.6 MW of wind power, and 5.6 MW of solar power.

The company plans to acquire hydro, solar, and wind power projects under construction and in operation. Projects in the survey and investigation stage are also considered for acquisition.

Any independent power producer, power generation companies, power project developers, state electricity boards, and lenders owning hydro, solar, and wind power projects in Indian states having requisite statutory clearances regarding land and other facilities and power purchase agreements are eligible for offering hydro, solar, and wind projects for possible acquisition by SJVN.

Hydropower projects of any capacity can be offered for acquisition. For solar projects, the minimum eligible capacity is 25 MW and above, and for wind projects, the capacity must be 50 MW and above.

Speaking at a Mercom webinar, N.L. Sharma, Chairman and Managing Director of SJVN, had said that SJVN plans to develop 5 GW of renewable energy by 2023-24, 12 GW by 2030, and 25 GW by 2040. It had already started expanding in the renewable energy sector, especially solar and wind, to meet its shareholders’ expectations. To achieve its target, SJVN would also acquire solar and wind projects that match its technical and financial criteria.

SJVN has been issuing tenders for expanding renewables in all segments. Recently, it had floated a tender seeking services from firms to arrange for land, connectivity, open access, and power purchase agreements for 1 GW of grid-connected solar projects in the country. SJVN had also issued a tender to procure 1,250 acres of land for solar projects in Bihar.

According to Mercom’s India Tender Tracker, SJVN has tendered 1.2 GW of solar power projects as of March 2021.