Punjab Chief Minister Bhagwant Mann announced a groundbreaking achievement on Thursday, revealing that the state government had inked a monumental deal to acquire 1,200 MW of solar energy from Sutlej Jal Vidyut Nigam (SJVN), a prominent subsidiary of the Bhakra Beas Management Board. This landmark agreement, deemed the largest solar power purchase deal in the nation, heralds a remarkable stride towards sustainable energy.
Chief Minister Mann elucidated that the Punjab State Power Corporation Limited initiated the process by floating tenders for procuring solar power from both in-state and nationwide projects. SJVN Green Energy Limited presented a proposal to contribute 1,000 MW from Bikaner (Rajasthan) and Bhuj (Gujarat) at a rate of Rs 2.53 per unit, along with an additional 200 MW from Hoshiarpur (Punjab) at Rs 2.75 per unit. In a groundbreaking step, the Swiss challenge method was embraced, inviting counter bids and fostering a transparent competitive process.
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The chief minister highlighted that the initial bidding was pegged at Rs 2.59 per unit. Yet, through adept negotiation, this figure was artfully negotiated down to Rs 2.53. Similarly, for the 200 MW portion, the initial bid stood at Rs 2.79, which was eventually refined to Rs 2.75 per unit. This achievement translates into a substantial savings of Rs 431 crore over a span of 25 years, with the added advantage of mitigating transmission costs. The projects are set to commence soon, affirming the state's commitment to sustainable progress.
Chief Minister Mann juxtaposed this laudable achievement with past practices, critiquing the previous governments for entering agreements that favored private entities at the taxpayers' expense. He emphasized that from 2007 to 2017, project costs remained notably high, averaging above Rs 7 per unit. In contrast, the recent agreement stands as a testament to fiscal prudence and strategic vision.
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The visionary leader envisaged a future where Punjab ascends to power-surplus status through revolutionary measures. The agreement's rate has been solidified for a quarter-century without cost escalation. Notably, the Punjab State Power Corporation Limited will be exempt from transmission charges and losses. These solar power initiatives are slated to be operational within just 18 months, fostering an estimated daily production of an impressive 83 lakh units. This surplus energy will play a pivotal role in providing uninterrupted power to agricultural tubewells during daylight hours.
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