Negotiations with private companies are currently underway to bring this green energy initiative to fruition, officials here on Monday said .
In a bid to provide cheaper power to consumers in the state, the Punjab State Power Corporation Limited (PSPCL) had floated two tenders for procurement of a total 500 Mega Watt (MW) Solar power.
Disclosing this on Friday, a spokesperson of the Chief Minister’s Office said that these two solar power projects having capacity of 250 MW each to be located anywhere in India and another in Punjab to meet the rising demand of power in the state in order to develop and promote Green Power. The bidders all across the country participated in the tender.
According to chairman-cum-managing director PSPCL, Venu Prasad, under the tender for procurement of 250 MW Solar Power from projects located anywhere in India, ReNew Dinkar Jyoti Private Limited has offered 250 MW Solar power at the rate of Rs. 2.33-kilowatt hour (kWh).
Under the tender for procurement of 250 MW Solar Power from projects located anywhere in Punjab, Satluj Jal Vidyut Nigam (SJVN) Limited has offered 100 MW Solar power at the rate of Rs 2.69 kWh and SAEL Limited has offered 50 MW solar power at the rate of Rs. 2.69 kWh.
The CMD also pointed out that PSPCL had also signed PSA with Solar Energy Corporation of India (SECI) under which 500 MW Hybrid (solar and wind) power will be available to PSPCL starting from this December in phases and is likely to be fully available by the end of the financial year 2021-22.
The PSPCL has also signed an MoU with CESL (A joint Venture of PSUs under ministry of Power) for development of 140 MW Solar PV power projects at spare land of 66 KV substations of PSPCL to increase the share of clean, green and low tariff Renewable Power, said Prasad.
He said the PSPCL has already tied up for about 951 MW solar power from various projects and PSPCL is committed to serve it’s consumers with the best quality of reliable and cheap power. With the addition of this Power, PSPCL generation capacity will be enhanced to 14,500 MW.