Updated February 26th, 2024 at 17:23 IST

SJVN Green Energy signs agreement to supply 300 MW power to J&K

The Bikaner Solar project is being developed under the Domestic Content Requirement mode.

Reported by: Business Desk
SJVN Green Energy signs agreement to supply 300 MW power to J&K | Image:Unsplash
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SJVN signs agreement: SJVN Green Energy announced the signing of an agreement with Jammu and Kashmir Power Corporation Ltd (JKPCL) to supply 300 MW of power. This power will be sourced from the 1,000 MW Bikaner Solar project, currently under development under the Central Public Sector Undertaking (CPSU) Scheme of IREDA (Indian Renewable Energy Development Agency), at a cost of Rs 5,491 crore.

Commissioning is expected to occur by July 2024 for the Bikaner Solar project, which is being constructed under the Domestic Content Requirement (DCR) manner. In Jammu, the agreement was signed on February 23.

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In line with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, SJVN Green Energy Limited, a wholly-owned subsidiary of SJVN, sealed the Power Usage Agreement (PUA) with JKPCL.

The project's power output will cater to government use, either directly or through Discom. The company is pursuing its vision of achieving 25,000 MW by 2030 and 50,000 MW by 2040, aligning with the government's goal of generating 50 per cent of energy from non-fossil fuel-based resources by 2030.

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SJVN shares closed 1.05 per cent higher at Rs 120.75 apeice on the NSE on Monday, February 26.

(with PTI inputs)

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Published February 26th, 2024 at 17:23 IST