SBICAPS is proud to be the sole Transaction Advisor to Government of Maharashtra for the implementation of Mukhyamantri Saur Krishi Vahini Yojana 2.0 (MSKVY2.0) – a pioneering scheme launched by GoM for agriculture Feeder Level Solarisation under the aegis of PM-KUSUM Scheme of the Govt. of India.
MSKVY2.0 aims to provide reliable electricity supply to farmers during daytime through solarization of 30% agricultural feeders by way of power procurement from decentralized Solar PV ground mounted power projects across Maharashtra.
On March 7, 2024, procurer MSEDCL awarded LoAs to bidders for capacities aggregating over 9,100 MW at a special ceremony, in the august presence of Hon’ble Dy. CM Shri Devendra Fadnavis.
This scheme and the award of capacities to developers is a strategic step of the GoM towards meeting the long-standing demand of agriculture sector in Maharashtra. This initiative is expected to not only attract ~INR 35,000 crore of investments, generate about 25,000 jobs, enable reduction in subsidy burden on Govt. and cross-subsidy on C&I consumers but also lead to environmental and social benefits due to substantial emission reductions and improvement in opportunities and overall standard of living in rural areas.
As the sole Transaction Advisor, SBICAPS was instrumental since the implementation phase of the Scheme, involving structuring the tender process and evaluation criteria, designing the contractual framework, stakeholder consultation, running tender process in multiple rounds and assistance in tariff adoption. SBICAPS will continue to hand hold the Nodal Agency till acquisition of Project SPVs by successful bidders and signing of PPAs.