SJVN Collaborates with ONGC and SSL for Solar Projects Development
New Delhi: State-owned SJVN Ltd has forged partnerships with Oil & Natural Gas Corp. (ONGC) and Sambhar Salts Ltd. (SSL), a subsidiary of Hindustan Salts Ltd., to foster the growth of solar parks and projects.
In an official statement, Nand Lal Sharma, Chairman and Managing Director, stated, “SJVN has entered into distinct Memorandums of Understanding (MoU) with Oil & Natural Gas Corporation (ONGC) and Sambhar Salts Limited (SSL), a subsidiary of Hindustan Salts Limited.”
He elaborated, “The MoU with ONGC sets the stage for collaborative development of renewable energy projects encompassing offshore and onshore solar, wind, hybrid setups, as well as around-the-clock (RTC) initiatives. This also involves exploring emerging avenues like green hydrogen and green ammonia.”
This collaborative project development will unfold through a joint venture between SGEL, a wholly-owned subsidiary of SJVN, and ONGC.
Sharma also revealed that the MoU with Sambhar Salts outlines the phased development of solar projects and parks on the identified land bank of SSL by SGEL.
Furthermore, both parties are set to explore opportunities for equity partnership and revenue-sharing frameworks. These mechanisms will facilitate the advancement of solar projects via project-specific implementation agreements.
These strategic endeavors will bolster SJVN’s foothold in the renewable energy sector, propelling it closer to realizing its ambitious goal of achieving a 50,000 MW installed capacity by 2040.
About SJVN:
Once recognized as Satluj Jal Vidyut Nigam, SJVN is a prominent Indian public sector enterprise deeply engaged in the generation and transmission of hydroelectric power. Its inception dates back to 1988 when it was established as Nathpa Jhakri Power Corporation, emerging as a collaborative effort between the Government of India and the Government of Himachal Pradesh.
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