SJVN Bags Govt Nod To Form JVs For 8778 MW Hydro and Renewable Projects By CIOTechOutlook Team

SJVN Bags Govt Nod To Form JVs For 8778 MW Hydro and Renewable Projects

CIOTechOutlook Team | Tuesday, 02 January 2024, 08:43 IST

SJVN Ltd, a state-owned power producer, announced that it has received authorization from the finance ministry to construct four joint venture enterprises for the development of hydro and renewable projects with a combined capacity of 8,778 MW in India and Nepal. SJVN will be the primary partner in three joint ventures, while SJVN's wholly-owned subsidiary SJVN Green Energy Ltd (SGEL) will be the primary partner in the fourth.

As per statement, the Ministry of Finance's Department of Investment and Public Asset Management (DIPAM) has agreed to SJVN and the Ministry of Power's proposal to form four joint venture (JV) companies for the development of hydro and renewable projects in India and Nepal.

SJVN will form a JV with Maharashtra State Power Generation Company Ltd to develop 5,000 MW Renewable Energy Projects. Another JV will be formed between SJVN, Government of Arunachal Pradesh and Navyuga Engineering Company Ltd. The JV will execute the development of the 1,878 MW Oju Hydro Electric Project in Arunachal Pradesh, as per economic times.

SJVN will collaborate with Nepal Electricity Authority and GMR Energy Limited in the third JV to develop the 900 MW Upper Karnali Hydroelectric Project in Nepal. SJVN and GMR will have an equal equity share in this JV.

SJVN's wholly-owned subsidiary, SGEL, will form a joint venture with Assam Power Development Company Ltd. The JV would be responsible for establishing 1,000 MW renewable energy projects in the state of Assam.

SJVN has grown and diversified its business into Hydro, Thermal, Solar, and Wind Energy, Power Transmission, and Power Trading. In the Indian power environment, the firm has evolved as a key public sector power entity. The SJVN has a project portfolio of about 56,000 MW and a presence in India and Nepal.