CHANDIGARH: Punjab residents will get cheaper power supply within 18 months as the state government has signed a purchase agreement with Satluj Jal Vidyut Nigam (SJVN), said Chief Minister Bhagwant Mann today.
Addressing the media here, the CM maintained that it was the biggest memorandum of understanding (MoU) signed by Punjab State Power Corporation Ltd (PSPCL) with SJVN, a subsidiary of the Bhakra Beas Management Board and a leading renewable energy firm. The agreement was for 1,200 MW, he said.
Mann said while none of the pacts signed during the SAD-BJP regime from 2007-17 was below Rs 7 per unit, the government would now be paying a maximum of Rs 2.75 per unit. The benefit of the low-cost power purchase agreement, which was the “cheapest to date”, would be passed on to consumers, he said.
The CM said SJVN Green Energy Limited, an SJVN arm, had agreed to supply 1,000 MW power at the rate of Rs 2.53 per unit from Bikaner (Rajasthan) and Bhuj (Gujarat). The remaining 200 MW would be supplied by its Hoshiarpur plant at Rs 2.75 per unit. “The state stands to gain at least Rs 431 crore out of the MoU. There will be no increase in rates during the pact duration of 25 years,” he said.
To further promote clean energy and provide maximum power to agricultural tubewells, the PSPCL had floated more tenders to procure 2,500 MW solar power, the CM said. He alleged that the SAD-BJP and Congress governments had hugely benefitted private players in the earlier power pacts.