PSPCL signs PPA with SAEL for 400 MW solar power at Rs 2.97/kWh

Punjab State Power Corporation Limited (PSPCL) has signed a 25-year power purchase agreement (PPA) with Sukhbir Agro Energy Limited (SAEL) for 400 MW of solar power projects in Punjab. SAEL secured the capacity in 2024 at a tariff of Rs 2.97 per kWh.

The agreement follows PSPCL’s tender issued in May 2023 for procurement of 1,000 MW solar power through tariff-based competitive bidding from projects of 5 MW and above, located anywhere in the state.

The 400 MW project is to be commissioned within 24 months from the date of signing the PPA.