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Punjab Awards 264 MW Solar Projects to VP Solar Generation Under PM-KUSUM Component-C

The Punjab Energy Development Agency (PEDA) has granted a Letter of Award (LoA) to VP Solar Generation for developing 66 solar projects, each with a capacity of 4 MW, totaling 264 MW under the PM-KUSUM (Component-C) initiative. The tender for these projects was issued in August 2024.

Once operational, these projects are expected to produce approximately 400 million units of electricity annually, attracting an investment of Rs 1056 Cr and saving the state an estimated Rs 176 Cr annually in agricultural subsidies. The installations will be set up at 66 kV substations of the Punjab State Power Corporation Limited (PSPCL) and are scheduled for completion by December 2025.

The Punjab State Electricity Regulatory Commission (PSERC) approved a tariff of Rs 2.38/kWh for these projects, determined through a competitive bidding process followed by an e-reverse auction.