SJVN To Invest Rs 1,000 crore in Three UP Solar Projects

Government owned power producer Satluj Jal Vidyut Nigam (SJVN) has declared that it will invest more than Rs 1,000 crore for the development of three renewable energy projects in Uttar Pradesh. This follows its efforts in other laggard states, including Odisha, Bihar in terms of supporting solar growth there.

Nand Lal Sharma, Chairman and Managing Director, SJVN, informed that three solar power projects will come up in different locations of UP. Two solar projects each having a capacity of 75 MW will be set up in Jalaun district’s Parasan and Gurha villages.

He added that SJVN will develop the third solar project at Gujarai village in Kanpur Dehat but this will be of 50 MW. In total, the SJVN will be investing around Rs 1,057 crore in Uttar Pradesh.

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The official statement of SJVN mentioned, ”SJVN has been felicitated by the Uttar Pradesh government for investing more than Rs 1,000 crore in the state during the 3rd Investor Meet Ground Breaking ceremony. The event was chaired by Prime Minister Narendra Modi.”

The Rising Role of SJVN

The Hydro dominant SJVN maintains a total portfolio of about 17GW and is present in 9 states of India. It also has businesses in the neighboring countries of Nepal and Bhutan. In April, the company incorporated a new entity – SJVN Green Energy Ltd (SGEL) – to work specifically in renewable energy that includes solar, wind, hydro energy, biomass, BESS and hydrogen. SJVN is a joint venture of the Central Government and the Himachal Pradesh Government and is headquartered in Shimla.

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Recently SJVN signed a pact with Rajasthan state government under which it will be developing 10000 MW of energy attracting more than Rs 50,000 crore.

The Renewable Lag in Uttar Pradesh

A joint report by the Institute for Energy Economics and Financial Analysis (IEEFA) and think tank Ember had revealed recently that Uttar Pradesh is lagging much behind its 2022 renewable energy target of 14.7 GW. In October, 2021, the state had a total installed capacity of merely 4.3 GW of renewable energy which is just 30 per cent of the target. The state is supposed to add 10.7 GW of power coming from solar energy only.