SJVN to form 3-GW solar, hydro JV in India's Odisha
- Indian state-owned power generator Satluj Jal Vidyut Nigam (SJVN) has consented to set up a joint venture (JV) with Grid Corporation of Odisha to develop 3 GW of solar as well as hydropower projects in the Eastern Indian state of Odisha.
The partners have actually authorized a Memorandum of Understanding (MoU) outlining their strategies, SJVN stated in a regulative declaring last week. The power generation group will certainly take part in the effort through its subsidiary SJVN Green Energy Ltd
Under the plan, the duo plans to release 2 GW of solar photovoltaic or pv (PV) as well as 1 GW of hydropower capacity, expecting the projects to bring in some INR 200 billion (USD 2.45 bn/EUR 2.32 bn) in investments. When up and running, the nuclear power plant are approximated to have a consolidated output totalling 4,207 GWh of electrical power annually and also assist in saving some 206,000 tonnes of co2 (CO2) emissions.
The JV plan lines up with SJVN's method for 5 GW of set up renewables capacity by 2023 and 50 GW by 2040. It begins the heels of a MoU with Assam Power Circulation Co Ltd (APDCL) for a JV intending to establish 1 GW of floating solar projects in the northeastern state of Assam.