SJVN said that its wholly owned subsidiary, SJVN Green Energy signed a Memorandum of Understanding (MoU) with Assam Power Distribution Company for developing 1,000 MW floating solar power projects in Assam by incorporating a joint venture company.
The project will produce 2,192 million units in the first year after commissioning and approximately 50,425 million units of energy in total during a 25-year period, according to the corporation. SJVN also stated that it will invest Rs 6,000 crore in the state for the project’s development.
The company has complemented the government of India’s goal of obtaining 50% of its energy from non-fossil fuel sources by 2030 with its shared aim of 5,000 MW by 2023, 25,000 MW by 2030, and 50,000 MW capacity by 2040. According to the company’s news release, SJVN intends to play a crucial position in the country’s transition to renewable energy as a trusted and strategic partner.
SJVN is a public sector enterprise with operations in hydro, thermal, solar, wind, power transmission, and power trading in India. The governments of India and Himachal Pradesh are partners in this endeavour.