SJVN receives government approval to establish JVs for 8,778 MW hydro and renewable projects

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). 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 Arunachal Pradesh government and Navyuga Engineering Company Limited for the implementation of the 1,878 MW Oju hydroelectric project (HEP) in Arunachal Pradesh. In another development, SJVN has commissioned 75 MW Gurhah solar power plant located in district Jalaun, Uttar Pradesh. SJVN has implemented the project through its wholly owned subsidiary SGEL. It has bagged the project at a tariff of Rs 2.98 per unit through competitive tariff bidding conducted by Uttar Pradesh New and Renewable Development Agency. The project will generate 159.77 million units (MUs) in the first year and the estimated cumulative energy generation over a period of 25 years will be around 3,716 MUs. The project has been developed at the cost of Rs 4.08 billion