Punjab: PSPCL to procure 500 MW solar power, receives bids

Two solar power projects having a capacity of 250 MW each to be located anywhere in India and another in Punjab will meet the rising demand for power in the state in order to develop

The Punjab State Power Corporation Limited (PSPCL) has floated two tenders for procurement of a total of 500 MW solar power and received bids for the same.

Two solar power projects having a capacity of 250 MW each to be located anywhere in India and another in Punjab will meet the rising demand for power in the state in order to develop and promote green power, said a statement released by PSPCL. Bidders from all across the country have participated in the tender.

According to PSPCL chairman A Venu Prasad, under the tender for procurement of 250 MW Solar Power from projects located anywhere in India, ReNew Dinkar Jyoti Private Limited has offered 250 MW Solar power @ Rs 2.33/kWh. Under the tender for procurement of 250 MW from projects located anywhere in Punjab, SJVN Limited has offered 100 MW Solar power @ Rs. 2.69/kWh and SAEL Limited has offered 50 MW solar power @ Rs. 2.69/kWh.

The CMD also pointed out that PSPCL had also signed PSA with Solar Energy Corporation of India (SECI) under which 500 MW hybrid (solar + wind) power shall be available to PSPCL starting from this December in phases and is likely to be fully available by the end of the Financial Year 2021-22.

Likewise, the PSPCL has also signed an MoU with CESL (a joint venture of PSUs under the Ministry of Power) for the development of 140 MW solar PV power projects on spare land of 66 KV Substations of PSPCL.

Venu Prasad added that PSPCL has already tied up for about 951 MW solar power.

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