New Delhi, Jul 12 (PTI) State-owned SJVN on Tuesday entered into a pact with Solarworld Energy Solutions to build two solar power projects in Uttar Pradesh for Rs 690.75 crore, which will have the total generation capacity of 125 MW.

"SJVN today entered into an EPC (Engineering Procurement & Construction) contract for two projects namely 75 MW Solar Project at Gurah district Jalaun and 50 MW Solar Project at Gujrai district Kanpur Dehat with Solarworld Energy Solutions Private Ltd," a company statement said.

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Nand Lal Sharma, chairman & managing director, SJVN, said in the statement that these Rs 690.75 crore EPC contracts includes end-to-end delivery of the commissioned solar plant to SJVN, including comprehensive operation and maintenance of these solar PV plants for two years.

The contract value for a 75 MW solar project is Rs 410.75 crore, while for 50 MW solar project is Rs 280 crore. Both the projects are scheduled to be commissioned in April 2023.

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Sharma informed that SJVN had secured these projects through the tariff-based 'competitive bidding process conducted by Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA).

He further stated that the SJVN quoted a tariff of Rs 2.98 per unit for both solar projects and power generated from these projects will be procured by UPPCL for 25 years.

The Gurah project will generate 159 MU (million units) energy annually with Capacity Utilization Factor (CUF) of 24.22 per cent, while the Gujrai project will generate 106 MU energy annually with CUF of 24.20 per cent.

Sharma said: "Recent successive additions of new renewable projects in company's portfolio shows our commitment to empower the nation for expanding its non-fossil fuel-based energy and decarbonisation of the economy."

Presently, SJVN has the total portfolio of around 31,500 MW and has diversified into power transmission and power trading also.

Recent project additions are paving the path for achieving SJVN's shared vision of 5,000 MW by 2023, 25,000 MW by 2030 and 50,000 MW installed capacity by 2040.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)