SJVN Limited has signed separate memorandums of understanding (MoU) with Oil and Natural Gas Corporation Limited (ONGC) and Sambhar Salts Limited (SSL), a subsidiary of Hindustan Salts Limited.
The MoU inked with ONGC will pave way for joint development of renewable energy projects, including offshore and onshore wind, solar, hybrid, round the clock (RTC) projects, and new technologies such as green hydrogen, and green ammonia. The joint development of the projects shall be done by formation of a joint venture company between SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN, and ONGC. Meanwhile, the MoU with SSL has been signed for the development of solar projects/park in phased manner by SGEL on the identified land bank of SSL. Both the companies will explore avenues for equity partnership, revenue sharing mechanism for development of solar projects through project specific implementation agreements. These developments will further strengthen the footprints of SJVN in renewable energy sector.