Indian power producer SJVN Ltd has received the green light from the Department of Investment & Public Asset Management (DIPAM) under India's Ministry of Finance to establish four joint ventures. These ventures will focus on deploying 6,000 MW of non-hydro renewables and 2,778 MW of hydroelectric power projects in India and Nepal.
In collaboration with Maharashtra State Power Generation Company Limited, the first joint venture aims to develop 5,000 MW of renewable energy projects in the western Indian state of Maharashtra.
A second entity will be formed with Assam Power Development Company Limited to pursue the realization of 1,000 MW projects in the state of Assam.
Furthermore, SJVN will partner with the government of Arunachal Pradesh and Navyuga Engineering Company Limited for the development of the 1,878-MW Oju Hydro Electric Project in the northeastern state.
In a separate joint venture, SJVN will collaborate with Nepal Electricity Authority and GMR Energy Limited, with SJVN and GMR holding an equal equity partnership. This partnership will focus on the implementation of the 900-MW Upper Karnali Hydro Electric Project in Nepal.
Leading three out of the four joint ventures, SJVN aims to diversify its energy portfolio, which currently includes hydro, thermal, solar, and wind energy, as well as power transmission and trading. The company has an ambitious project pipeline of 56,000 MW, targeting 50,000 MW of power generation assets by 2040. The approved joint ventures mark a strategic move for SJVN in contributing to the renewable energy landscape in the region.