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SJVN Limited, a Mini Ratna Central public sector enterprise, has bagged a Rs 7,436 crore deal for the development of solar power projects of 1,352 MW capacity in Maharashtra with an investment of Rs 7,436 crore, the Power Ministry said on Friday.

The projects will be developed through the SJVN Green Energy Limited (SGEL), a wholly-owned subsidiary of SJVN, in four districts -- Nashik, Solapur, Ahmednagar, and Pune.

This will be the first contribution of SGEL towards the PM-KUSUM scheme. These projects will be eligible for Central financial assistance, up to a maximum of 30 per cent of the project cost.

SJVN Chairperson & Managing Director Geeta Kapur has informed that these solar projects will be developed under the Mukhya Mantri Saur Krushi Vahini Yojana 2.0 of the Maharashtra government.

The scheme has fixed a target of 30 per cent feeder solarisation by 2025 through the implementation of 7,000 MW decentralised solar projects in fast-track mode, thus giving day-time electricity supply to the farmers.

The projects have been bagged by SGEL through a competitive bidding process following a tender floated by the MSEB Solar Agro Power Limited, Maharashtra.

The total capacity of the tender was 7000 MW and SGEL participated for 1,500 MW -- 500 MW in Round 1 and 1,000 MW in Round 2.

The aforesaid scheme has been launched for the implementation of the largest feeder-level solarisation scheme in India under component C of the PM-KUSUM scheme.

Looking ahead, SJVN aims to grow by setting ambitious targets to achieve the shared vision of 25,000 MW installed capacity by 2030 and 50,000 MW installed capacity by 2040.

This shared vision has been formulated in line with the Government of India’s commitment of having 50 per cent of total power capacity from non-fossil-fuel-based energy sources by 2030.

SJVN received the Letters of Award in the presence of Deputy Chief Minister of Maharashtra, Devendra Fadnavis; Director (Finance), SJVN, Akhileshwar Singh; and CEO, SGEL, Ajay Singh, at an event held in Mumbai on Thursday.