Shimla: The Chairman and Managing Director of SJVN, Sh. Nand Lal Sharma, has announced that SJVN has recently signed two separate Memorandums of Understanding (MoU). The first MoU was signed with Oil & Natural Gas Corporation (ONGC) and the second with Sambhar Salts Limited (SSL), a subsidiary of Hindustan Salts Limited. Sh. Nand Lal Sharma explained that the MoU signed with ONGC will enable SJVN and ONGC to jointly develop renewable energy projects.
This will include Offshore & Onshore Solar, Wind, Hybrid, RTC projects, as well as exploring new technologies such as Green Hydrogen and Green Ammonia. The joint development of these projects will be carried out through the formation of a Joint Venture Company between SGEL, a wholly owned subsidiary of SJVN, and ONGC.
Furthermore, Sh. Nand Lal Sharma also revealed that the MoU signed with Sambhar Salts Limited is for the development of Solar Projects/Park in a phased manner by SGEL on the identified land bank of M/s SSL. Both parties will explore avenues for equity partnership and revenue-sharing mechanisms for the development of solar projects through project-specific Implementation Agreements. These developments will further strengthen SJVN’s presence in the renewable energy sector and will help the company achieve its ambitious Shared Vision of 50,000 MW installed capacity by 2040.
