In order to construct hydro and renewable projects with a combined capacity of 8,778 MW in India and Nepal, state-owned power producer SJVN Ltd said on Monday that it has been granted permission by the finance ministry to establish four joint venture enterprises.
New Delhi: On Monday, the finance ministry authorized state-owned power producer SJVN Ltd to establish four joint venture companies for the construction of hydro and renewable projects in India and Nepal, with a combined capacity of 8,778 MW. According to a business release, SJVN will head three joint venture firms, while its wholly-owned subsidiary SJVN Green Energy Ltd (SGEL) will lead the fourth JV.
In a statement, the Ministry of Finance's Department of Investment and Public Asset Management (DIPAM) has accepted the suggestion from SJVN and the Ministry of Power to establish four joint venture (JV) companies for the development of hydro and renewable projects in Nepal and India.
To construct 5,000 MW of renewable energy projects, SJVN and Maharashtra State Power Generation Company Ltd. would enter into a joint venture.
An further joint venture will be established by SJVN, the Arunachal Pradesh government, and Navyuga Engineering Company Ltd.
The 1,878 MW Oju Hydro Electric Project in Arunachal Pradesh will be developed by the JV.
The third joint venture (JV) would see SJVN working with GMR Energy Limited and the Nepal Electricity Authority to develop the 900 MW Upper Karnali Hydro Electric Project in Nepal. SJVN & GMR will have an equal ownership partnership in this JV.
Assam Power Development Company Ltd. and SGEL, a wholly-owned subsidiary of SJVN, will collaborate to create a joint venture.
The 1,000 MW RE Projects in the state of Assam will be developed under the JV.
In the areas of power transmission, power trading, hydro, thermal, solar, and wind energy, SJVN has grown and diversified.
In the Indian power landscape, the firm has grown to become a significant public sector power institution. With a presence throughout all of India and Nepal, the SJVN has more over 56,000 MW of projects in its portfolio.