Government Approves SJVN JVs for 8778 MW Hydro-Renewable Projects
SJVN Ltd, a state-owned power producer, has obtained approval from the finance ministry to establish four joint venture entities dedicated to advancing hydro and renewable projects. These projects, with a combined capacity of 8,778 MW, will be implemented in India and Nepal. SJVN will take the lead in three of the joint ventures, while its wholly-owned subsidiary, SJVN Green Energy Ltd (SGEL), will spearhead the fourth joint venture, as per a company announcement.
According to the statement, the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India has agreed to the proposal of SJVN and Ministry of Power 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.
In the third joint venture, SJVN is set to partner with the Nepal Electricity Authority and GMR Energy Limited to execute the 900 MW Upper Karnali Hydro Electric Project in Nepal. SJVN and GMR will share equal equity participation in this venture. Additionally, SJVN's wholly-owned subsidiary, SGEL, will establish a joint venture with Assam Power Development Company Ltd.
The joint venture is focused on the development of 1,000 MW Renewable Energy Projects in Assam. SJVN has broadened its scope by diversifying into Hydro, Thermal, Solar, and Wind Energy, as well as engaging in Power Transmission and Trading. The company has established itself as a significant player in the Indian power landscape, with a project portfolio exceeding 56,000 MW and a presence spanning across India and Nepal.
