Punjab has reached a crucial agreement with Satluj Jal Vidyut Nigam (SJVN) that guarantees affordable solar power for its citizens within the next 18 months, making a huge step toward improving its energy picture.
In his remarks to the assembled media, Chief Minister Mann emphasized the significance of the occasion by pointing out that this was the largest memorandum of understanding (MoU) ever signed by Punjab State Power Corporation Ltd (PSPCL) and SJVN, a renowned figure in the field of renewable energy and a subsidiary of the Bhakra Beas Management Board. This historic arrangement covers a massive 1,200 MW solar generating capacity.
This achievement marked a departure from the era spanning 2007 to 2017, during which none of the agreements formed under the SAD-BJP administration yielded rates below Rs 7 per unit. However, under the new agreement, the government is committed to a ceiling of Rs 2.75 per unit, a figure that significantly diminishes the cost of energy production. This unprecedented advantage of a low-cost power purchase agreement, which stands as the “most economical to date,” will be transparently transferred to the consumers, Mann assured.
The Chief Minister revealed that SJVN Green Energy Limited, a subsidiary of SJVN, has affirmed its commitment to supply 1,000 MW of power at a rate of Rs 2.53 per unit, drawing from its installations in Bikaner (Rajasthan) and Bhuj (Gujarat). Simultaneously, the remaining 200 MW will emanate from SJVN’s Hoshiarpur plant, priced at Rs 2.75 per unit. Mann underlined the substantial gains that Punjab stands to accrue from this monumental MoU, estimating a remarkable Rs 431 crore in savings. Furthermore, he underscored that this pricing structure will remain unaltered over the 25-year duration of the agreement.
Mann elaborated on the state’s plans to advance clean energy and increase its support for agricultural tubewells in the future. In order to acquire an amazing 2,500 MW of solar power, he disclosed that the PSPCL has launched further tender processes. He made an open criticism of the SAD-BJP and Congress regimes that came before them for prior energy accords that disproportionately favored private entities.
In other remarks, Chief Minister Mann denied reports of an upcoming Cabinet shake-up, saying that the upcoming monsoon session of the Assembly remains the major priority. He dispelled rumors that the Pong and Bhakra dams were in danger and strongly refuted claims that farmers would no longer receive free electricity. As a gesture of appreciation for democratic unanimity, he disclosed a grant of Rs 5 lakh to panchayats that achieve the feat of electing their representatives unanimously.
(With Input source)
