SJVN signs MoU with Rajasthan govt to develop 10 GW renewable energy projects

Satluj Jal Vidyut Nigam (SJVN) signed a Memorandum of Understanding (MoU) with Rajasthan government in New Delhi on Wednesday for developing 10 GW renewable energy projects and parks in the state. SJVN stated that with the addition of 10,000 MW capacity, their portfolio has now reached 42,000 MW. Nand Lal Sharma, Chairman and Managing Director of SJVN signed MoU with Bhaskar Sawant, Principal Secretary (Energy) with Rajasthan government to establish the renewable energy project. Rajasthan

Chief Minister Ashok Gehlot was also present during the occasion. Sharma termed it as a "major achievement". Sharma apprised that SJVN will establish the 10,000 MW renewable energy projects and parks on the land banks to be allocated by Rajasthan Renewable Energy Corporation Limited in the state. An investment of around Rs 50,000 crore will be made for developing these projects in the next five to seven years. These projects and parks will usher in socio-economic development in the state and will open up multiple direct and indirect employment opportunities. Sharma further said that "With this massive portfolio addition, we are contributing to meeting the growing need for carbon emission-free and cost-effective energy to strengthen the sustainable development of the nation. These projects/parks will not only reduce the country's reliance on fossil fuels but will also help in mitigating effects of climate change which has become a cause of concern for all." Under the dynamic leadership of

Prime Minister Narendra Modi, India is focusing on the transition to green energy generation from non-fossil fuel-based resources and SJVN has re-engineered its business model in sync with this commitment. This exponential addition in the RE portfolio has catapulted SJVN closer to achieving the shared vision of 5000 MW by 2023, 25000 MW by 2030 and 50000 MW by 2040. Industries Minister of Rajasthan Shakuntala Rawat, SJVN Director (Personnel) Geeta Kapur, SJVN Director Finance AK Singh, SJVN CEO Green Energy Limited SL Sharma and other senior officials of Rajasthan government and SJVN were also present.