SJVN gets nod to lead 8.8 GW of projects in India, Nepal

Indian power producer SJVN Ltd (BOM:533206) has been given the go-ahead to form four joint ventures for the deployment of 6,000 MW of non-hydro renewables and 2,778 MW of hydroelectric power projects in India and Nepal.

The green light was given by the Department of Investment & Public Asset Management (DIPAM) within India’s Ministry of Finance on a proposal of SJVN and the Ministry of Power to set up joint entities for project development.

The first joint venture will be established with India-based Maharashtra State Power Generation Company Limited to develop 5,000 MW of renewable energy projects. Maharashtra is an Indian state in the western peninsular region of the country.

Another entity will be formed with Assam Power Development Company Limited. Under this partnership, the companies will seek to realise 1,000 MW of projects in the state of Assam.

In addition, SJVN will team up with the government of the northeastern state of Arunachal Pradesh and Navyuga Engineering Company Limited to develop the 1,878-MW Oju Hydro Electric Project in the state.

Another joint venture will see collaboration with Nepal Electricity Authority and GMR Energy Limited, with SJVN and GMR sharing an equal equity partnership. The partners will join forces for the implementation of the 900-MW Upper Karnali Hydro Electric Project in Nepal.

SJVN will be the leading partner in three of the joint ventures, while its subsidiary SJVN Green Energy Limited (SGEL) will head the Upper Karnali development.

SJVN is active in hydro, thermal, solar and wind energy, power transmission and trading. It has a current project pipeline of 56,000 MW, targeting 50,000 MW of power generation assets by 2040.

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