SJVN Ltd has entered into an MoU with Damodar Valley Corporation (DVC) for setting up renewable energy projects, including ground-mounted and floating solar plants.
The two Central PSUs, both falling under the power ministry, will tap the renewable energy potential of around 2,000 mw available under the command area of DVC.
SJVN and DVC will jointly identify suitable water-bodies and available land under the SJVN and DVC command area for setting up renewable power projects, an official release said.
The MoU was signed by Akhileshwar Singh, Director (Finance), SJVN and M. Raghuram, Member (Technical), Damodar Valley Corporation in the presence of senior officials of the two companies.
SJVN Vision
Nand Lal Sharma, Chairman & Managing Director, SJVN, informed that this initiative is in line with the target set by the Government of India and it would enable SJVN in expanding its footprint pan India, as well as, achieving its shared vision of capacity addition of 5,000 mw by 2023, 12,000 mw by 2030 and 25,000 MW by 2040.
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Floating solar
Sharma also stated that under the MoU signed today, SJVN and DVC will explore the formation of a joint venture company for development of Renewable Energy Project at different location within the command areas of SJVN and DVC. DVC has large water bodies under its management, which can be harnessed for solar power by setting up floating solar energy farms.
