SJVN Limited has received approval from the Ministry of Finance to establish four joint venture (JV) firms for the creation of hydro and renewable projects with a combined capacity of 8,778 MW in India and Nepal.
Three of the JV companies will be led by SJVN, while the fourth JV will be spearheaded by SJVN Green Energy Limited (SGEL), a wholly-owned subsidiary of SJVN. The Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India, has endorsed SJVN’s proposal, along with the Ministry of Power, to establish these JVs. As part of the initiatives, SJVN will collaborate with Maharashtra State Power Generation Company Limited for the development of 5,000 MW renewable energy projects. Another JV will be formed with the Government of Arunachal Pradesh and Navyuga Engineering Company Limited for the implementation of the 1,878 MW Oju hydroelectric project (HEP) in Arunachal Pradesh. Additionally, SJVN will partner with Nepal Electricity Authority and GMR Energy Limited for the execution of the 900 MW Upper Karnali HEP in Nepal, with SJVN and GMR having an equal equity partnership. Further, SGEL will form a JV with Assam Power Development Company Limited for developing 1,000 MW renewable energy projects in Assam.