Within the MoU, SJVN Green Energy and APDCL will develop 1000 MW floating solar power projects in Assam.
October 20, 2022
Satluj Jal Vidyut Nigam (SJVN), a PSU enterprise involved in hydroelectric power generation & transmission, has announced the signing of an MoU between its wholly owned subsidiary SJVN Green Energy Ltd. (SGEL) and Assam Power Distribution Company Ltd. (APDCL) in Guwahati, Assam.
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According to the agreement, the two partners will develop 1000 MW floating solar power projects in Assam through a Joint Venture (JV). The solar projects, which will produce 2192 million units in the first year after their commissioning, will entail an investment of INR 6000 crore in Assam. Further, a total of around 50,425 million units of renewable energy will be produced over a period of 25 years, the PSU undertaking said in the exchange filing.
SJVN said that it has aligned its shared vision of 5000 MW by 2023, 25000 MW by 2030, and 50000 MW capacities by 2040 with that of the Government of India’s goal of 50 percent energy from non-fossil fuel sources by 2030. The Company intends to contribute to the clean energy transition of the nation.
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In June this year, the Assam government expressed its keenness to establish a JV for renewable energy projects in the state. A meeting was held in which Mr. Akhileshwar Singh, Director (Finance) and Mr. Rajesh Gupta, Chief General Manager, SJVN interacted with Assam Chief Minister Himanta Biswa Sarma in Guwahati. The meeting also saw the participation of Mr. Sameer Kumar Sinha, Principal Secretary to Assam CM, and Mr. Niraj Verma, IAS, Principal Secretary, the Power Department, Government of Assam. SJVN released a statement regarding the meeting that the development of ground-mounted (solar projects), floating solar, battery storage, and pilot hydrogen plants were considered. The CM also expressed his willingness for equity participation in SJVN’s future hydropower projects in Arunachal Pradesh. CM also conveyed his interest in the formation of a JV with SJVN for the development of hydro and renewable energy projects, the statement said.
