Punjab: PSPCL to procure 500 MW solar power

Punjab State Power Corporation Limited has received bids from across India after it floated two tenders to procure 500 MW solar power

Punjab State Power Corporation Limited (PSPCL) has received bids from across the country after it floated two tenders to procure 500 MW solar power.

The move will help meet the rising demand of power in Punjab and provide a green alternative, said the government. (Representative image)

The two projects with the capacity of 250 MW each will help meet the rising demand of power in the state and provide a green alternative, said a spokesperson of the chief minister’s office.

According to PSPCL chairman-cum-managing director (CMD) A Venu Prasad, under the first tender for procurement from projects located anywhere in India, ReNew Dinkar Jyoti Private Limited has offered 250 MW solar power for ₹2.33/kWh.

Under the second tender for procurement from projects located anywhere in Punjab, SJVN Limited has offered 100 MW solar power for ₹2.69/kWh and SAEL Limited has offered 50 MW solar power for ₹2.69/kWh.

Other agreements

The CMD also pointed out that PSPCL had signed a power sale agreement with the Solar Energy Corporation of India (SECI) under which 500 MW hybrid (solar and wind) power will be made available to the corporation from this December in phases, and is likely to be fully available by the end of this fiscal.

He said the corporation has already tied up for about 951 MW solar power from various projects and PSPCL is committed to serve its consumers with best quality of reliable and cheap power. With the addition of this power, the PSPCL’s generation capacity will be enhanced to 14,500 MW.