SJVN signs another Hydro and Solar power project

Shimla : 1st December, 2022

Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN today informed that a Memorandum of Understanding (MoU) has been signed between SJVN’s wholly owned subsidiary SJVN Green Energy Limited (SGEL) and Grid Corporation of Odisha (GRIDCO) at Bhubaneswar. The MoU has been inked for developing 1000 MW Hydro Electric Project and 2000 MW Solar Power Project in Odisha by incorporating a Joint Venture Company.

The MoU has been signed in the august presence of Hon’ble Chief Minister of Odisha Sh. Naveen Patnaik, Power Minister ­­­­­­­­­­­­­­­Sh. Pratap Kesari Dev and Sh. Nand Lal Sharma, CMD, SJVN. On this historic occasion, Sh. A.K Singh, Director (Finance), Sh. S.L Sharma, CEO (SGEL) along with other senior officials of the state government, SJVN and SGEL were also present.

Sh. Nand Lal Sharma stated that the development of 1000 MW Hydro Electric Project and 2000 MW Solar Power Project will attract an investment of Rs 20,000 Crores in Odisha. The 2000 MW Solar Power Project is expected to generate 4207 MU in first year and a cumulative generation of around 96797 MU over a period of 25 years. With the commissioning of this Project, carbon emission reduction to the tune of 206143 tonne for the first year and 4743053 tonne for complete life span would be achieved.

“This MOU will pave a way for formation of Joint Venture between SGEL and GRIDCO for generating green power, new direct & indirect employment opportunities, boost to local businesses, carbon emission reduction, sustainable and overall development of the state. This will also enhance green generation capacity and will help in meeting the Renewable Purchase Obligation target of Odisha.” said Sh. Nand Lal Sharma.