With the help of Satluj Jal Vidyut Nigam (SJVN), Punjab has taken a major step forward in improving its energy environment, with the promise of affordable solar electricity for its citizens within the next 18 months.
Punjab State Power Corporation Ltd (PSPCL) and SJVN, a leading player in the field of renewable energy and a subsidiary of the Bhakra Beas Management Board, signed the largest memorandum of understanding (MoU) ever at the event, as Chief Minister Mann pointed out in his address to the assembled media. A massive 1,200 MW of solar electricity is at stake in this historic arrangement.
This accomplishment signified a change from the period between 2007 and 2017, during which no contracts negotiated by the SAD-BJP government produced prices lower than Rs 7 per unit. While before the cost of producing electricity was high, the current deal caps the price at Rs 2.75 per unit, a substantial reduction. Since this PPA is the “most economical to date,” Mann guarantees that its benefits will be passed on to customers without any hidden fees or surcharges.
Using its facilities in Bikaner (Rajasthan) and Bhuj (Gujarat), the Chief Minister said that SJVN Green Energy Limited has reaffirmed its promise to deliver 1,000 MW of electricity at a tariff of Rs 2.53 per unit. At the same time, SJVN’s Hoshiarpur facility would provide the remaining 200 MW at a cost of Rs 2.75 per unit. Mann emphasized the significant benefits that Punjab expects to earn from this historic MoU, anticipating savings of an astounding Rs 431 crore. Additionally, he emphasized that this price structure will not change during the agreement’s 25-year term.
Mann spoke on the state’s future plans to advance sustainable energy and increase funding for agricultural tubewells. He said that the PSPCL has issued new requests for proposals in an effort to acquire an astonishing 2,500 MW of solar electricity. He made a frank statement, criticizing the SAD-BJP and the Congress for favoring corporate interests too much in energy contracts in the past.
While other announcements focused on the next monsoon session of the Assembly, Chief Minister Mann shot off reports of an anticipated Cabinet upheaval. He flatly denied that the Pong and Bhakra dams were under danger and put to rest rumors that farmers’ access to free electricity would be cut off. He announced a reward of Rs 5 lakh for panchayats that manage to elect their delegates unanimously via democratic means.