SJVN: The public sector company announced that SJVN Green Energy, a subsidiary, has signed a Memorandum of Understanding with Grid Corporation of Odisha for the development of 1,000 MW hydroelectric projects and 2,000 MW solar power projects in Odisha through the incorporation of a joint venture company. The development of these projects will cost Rs 20,000 crore and is anticipated to produce 4,207 million units (MUs) in the first year and roughly 96,797 MUs overall over a 25-year period.
Here Are Details About SJVN Order
SUB: SJVN ventures into Hydro & Solar Power Project Development in Odisha
In Compliance with regulation 30 of Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements), Regulations 2015, we inform you that the
Company’s Wholly Owned Subsidiary SJVN Green Energy Limited has signed a
Memorandum of Understanding with Grid Corporation of Odisha for developing 1000 MW
Hydro Electric Projects and 2000 MW Solar Power Projects in Odisha by incorporating a
Joint Venture Company.
The development of these projects will attract an investment of Rs.20,000 Crores and is
expected to generate 4207 Million Units (MUs) in first year and a cumulative generation of
around 96797 MUs over a period of 25 years. It will also result in the reduction of reduce
approximately 206143 tonnes of carbon emission in the first year and 4743053 during its
entire life span.
The company has aligned its Shared Vision of 5000 MW by 2023, 25000MW by 2030 &
50000 MW capacity by 2040 with that of Government of India’s target of achieving 50%
energy from non-fossil fuel sources by 2030. As a strategic & reliable partner, SJVN plans to
play a vital role in clean energy transition of the nation.