Indian hydropower company looking to deploy 10GW of solar over next 5 years in deal worth US$6.7bn

Facebook
Twitter
LinkedIn
Reddit
Email

The signing ceremony with senior SJVN and Government of Rajasthan officials. Image: SJVN.

Indian state-run hydropower company SJVN is planning to deploy 10GW of solar PV in Rajasthan over the next five years through a INR50,000 crore (US$6.7 billion) investment.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Confirmed during a signing ceremony in August but announced this week (8 February), the plans will see the solar projects built on land supplied by the Rajasthan Renewable Energy Corporation after state authorities accepted the proposal. An MoU is due to be signed shortly.

Electricity generated from the projects will be distributed via Power Purchase Agreements (PPAs), taking advantage of “competitive tariff-based opportunities available in the market”, said SJVN chairman and managing director Nand Lal Sharma.

Rajasthan – one of the three states that make up the vast majority of PV deployment in India – was an ideal location for the projects, said Sharma.

“The state has the largest solar power potential in the country,” he said. “It receives the highest solar radiation (5.72kWh per meter square per day) and also has the highest number of more than 325 clear sunny days in a year [sic]. All these factors work in our favour of developing the projects.”

Sharma said that, in line with government climate objectives, the state-run company was reorientating to prioritise renewables deployment.

At COP26 India committed to 500GW of renewable by 2030, including 280GW of solar, and pledged to reach net zero by 2070, which was received with disappointment in some quarters but was in keeping with what most analysts predicted given the country’s energy needs.

At the start of the month, the Indian government released it ‘game changing’ budget for the upcoming year, which included a combination of carrot and stick measures to drive PV manufacturing and in turn deployment in the country.

A Basic Customs Duty (BCD) on solar products has been established to stimulate domestic manufacturing, while an increasingly well-funded Production Linked Incentive (PLI) scheme has been designed to support the development of an Indian industrial base for solar.

However, Fitch Solutions has warned that India is at risk of a supply and demand mismatch for solar equipment if domestic PV manufacturers are unable to meet the quantity and quality required by project developers.

PV Tech Premium has broken down the key mechanisms and avenues available to businesses looking to set up manufacturing facilities in India, as well as laying out the instruments for investing in the country’s growing solar sector more broadly.

Read Next

August 28, 2025
Indian solar manufacturing firm INA Solar has broken ground on its fourth 4.5GW cell production plant in Narmadapuram, Madhya Pradesh.
August 26, 2025
Jakson Engineers is investing over INR80 billion (US$912.5 million) to set up a 6GW integrated solar module, cell, and wafer plant.
August 26, 2025
India installed 14.3GW of new utility-scale solar capacity in the first half (H1) of 2025, marking a 49% increase year-on-year.
Premium
August 22, 2025
Indian PV manufacturers are facing a double hit from US trade tariffs and anti-dumping measures on products sold in America. Shreeyashi Ojha reports on how these are impacting their business models.
August 21, 2025
National Thermal Power Corporation (NTPC), through its renewable energy arm NTPC Green Energy, has commissioned 212.5MW of solar capacity at its 1.25GW Khavda-I project. 
August 19, 2025
Indian renewable energy company SAEL Industries has signed two 880MW power purchase agreements (PPAs) with the Indian states of Gujarat and Punjab.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines