SJVN Joins Forces with ONGC and Sambhar Salts for Solar Project Expansion

11 Aug 2023 , 01:51 PM

State-owned SJVN Ltd has entered agreements with Oil & Natural Gas Corp. (ONGC) and Sambhar Salts Ltd. (SSL) for solar park and project development. SJVN’s chairman, Nand Lal Sharma, announced the partnerships, highlighting separate Memorandums of Understanding (MoUs) with ONGC and SSL.

The collaboration with ONGC aims to jointly develop renewable energy projects, including solar, wind, hybrid, and round-the-clock (RTC) projects. Emerging technologies like green hydrogen and green ammonia will also be explored.

Projects will be executed through a joint venture involving SGEL, a wholly owned SJVN subsidiary, and ONGC. SJVN’s MoU with Sambhar Salts focuses on phased solar project and park development by SGEL using SSL’s identified land bank.

Equity partnerships and revenue sharing mechanisms for solar project development will be explored, guided by project-specific implementation agreements These initiatives reinforce SJVN’s role in the renewable energy sector, contributing to their ambitious target of 50,000 MW installed capacity by 2040.

The partnerships signify a transformative phase for renewable energy in India, fostering innovation and sustainable energy growth.

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