Punjab to have 66 solar power plants by 2025
Author: PPD Team Date: December 24, 2024
The government of Punjab has launched a new initiative under the Clean and Green Renewable Energy project to boost Punjab’s green energy production.
A total of 66 solar projects will be implemented across the state by December 2025, generating 264 MW of renewable energy.
The Punjab government has signed a 25-year agreement with VP Solar Generation Company, the winning bidder, to oversee the installation of solar plants.
Each of the 66 solar projects will generate 4 MW of energy, with a total investment of Rs 10.56 billion.
These projects are expected to produce around 400 million units (MU) of electricity, significantly reducing the state’s reliance on traditional energy sources.
The solar power purchase agreement was signed at a record-low rate of Rs 2.38 per unit, making it the most cost-effective agreement in Punjab’s history.
The 25-year deal with VP Solar Generation is projected to save Rs 1.76 billion annually in agricultural subsidy bills.
The expected completion date for all the solar plants is December 31, 2025.