With an aim to make the state a leading state in clean energy production and diminish reliance on fossil fuels, the Punjab Government will set up 66 solar power plants, each with a 4 MW capacity (total 264MW capacity), informed Punjab New and Renewable Energy Sources Minister Mr. Aman Arora here on Monday.
He also handed over a Letter of Award (LoA) to M/s. V.P. Solar Generations Pvt. Ltd. for setting up solar power plants at 66-KV substations of PSPCL in the State. This company has been selected through a transparent and competitive bidding process.
Thereafter, Punjab State Electricity Regulatory Commission (PSERC) had approved a tariff of Rs. 2.38/kwh for evacuation and sale of the solar power to PSPCL for 25 years under long term PPA. Mr. Aman Arora said that this ambitious clean energy project will be completed by the end of December 2025.
Upon completion, these solar plants will generate approximately 400 Million Units (MU) of electricity annually. By implementing feeder level solarisation, these solar power plants will also help in compensating the state around Rs. 176 crore agricultural subsidy bill annually.
This will contribute significantly to the region's renewable energy capacity, besides, reducing dependence on fossil fuels and lowering carbon emissions. Energy Generated from these Solar Power Plants shall be counted towards achieving the targets under Distributed Energy Component of Renewable Purchase Obligation (RPO) in the State.
Mr. Aman Arora directed the PEDA officials to put their every effort in smooth and timely execution of the project. This endeavour will attract investments around Rs. 1,056 Crore in the state, paving the way for the creation of job opportunities for both skilled and semi-skilled individuals in the realm of non-conventional energy within the State, he added.
Director PEDA Mr. M.P. Singh, Joint Director Mr. Rajesh Bansal, Directors of M/s. V.P. Solar Generations Pvt. Ltd. Mr. Parmodh Chaudhary and Mr. Harpal Singh Sandhu were also present during the issuance of Letter of Award.