SJVN to invest Rs6,000 crore for development of 1000 MW solar power projects in Assam

18 Oct 2022 , 09:22 AM

SJVN Limited informed that its wholly-owned subsidiary SJVN Green Energy Limited (SGEL) and Assam Power Distribution Company Limited (APDCL), signed a Memorandum of Understanding (MoU) at Guwahati today.

The MoU is signed to form a Joint Venture Company to build 1000 MW Floating Solar Power Projects in Assam.

SJVN plans to make an investment of Rs6,000 crore in the state to build the project.

The company’s Shared Vision of 5000 MW by 2023, 25000 MW by 2030, and 50000 MW capacity by 2040 is matched with the Government of India’s aim of 50% electricity from non-fossil fuel sources by 2030. SJVN intends to play an important role in the nation’s clean energy transition as a strategic and dependable partner, stated the company in an exchange filing.

The project will generate 2192 million units in the first year after commissioning and about 50425 million units of cumulative energy during a 25-year period.

At around 9.25 AM, SJVN was trading at Rs32.70 up by 1.4% from its previous closing of Rs32.25 on the BSE. The scrip opened at Rs32.60 and touched intraday high and low of Rs32.85 and Rs32.55 respectively.

For feedback and suggestions, write to us at [e-mail]