In a significant development aimed at bolstering the renewable energy sector in India, SJVN has entered into a Memorandum of Understanding (MoU) with REC (Rural Electrification Corporation). The MoU entails REC providing financial support amounting to a staggering Rs. 50,000 Crores for various projects initiated by SJVN and its subsidiaries and joint ventures.
Nand Lal Sharma, the Chairman and Managing Director of SJVN, announced the collaboration, emphasizing the positive impact it would have on the nation’s renewable energy landscape. Through this MoU, REC will extend its financial assistance to facilitate the establishment of new power-generating stations based on both conventional and renewable sources of energy. Furthermore, the financial support will extend to groundbreaking technology projects, such as Battery Storage, E-Vehicles, Green Hydrogen/Ammonia, Hydrogen Cells Storage, and Manufacturing Units for Green Projects. The agreement also encompasses the construction of evacuation and transmission projects and the strengthening and improvement of existing transmission systems.
The partnership between SJVN and REC is expected to fuel the growth engine of SJVN, propelling the company to play a pivotal role in India’s sustainable energy drive. Nand Lal Sharma expressed his confidence that this collaboration would enable SJVN to contribute significantly to the government’s vision of providing uninterrupted 24X7 power to all citizens.
As India continues to prioritize its transition to cleaner and greener energy sources, the MoU between SJVN and REC marks a crucial step towards achieving the nation’s ambitious renewable energy targets. The financial support provided by REC will help expedite the development of key renewable energy projects, thereby increasing India’s overall capacity for generating clean and sustainable power.
Both SJVN and REC are renowned for their commitment to promoting renewable energy initiatives and driving positive environmental change. With this collaboration, they aim to leverage their expertise and resources to create a more robust and resilient renewable energy infrastructure.
The MoU not only signifies a major boost for SJVN’s growth trajectory but also showcases REC’s dedication to supporting and financing sustainable projects that align with India’s renewable energy goals. By combining their strengths and resources, SJVN and REC are set to play an instrumental role in accelerating India’s journey towards a greener and more energy-secure future.
As the projects under the MoU take shape, they are expected to foster innovation, job creation, and economic growth in the renewable energy sector. The partnership’s impact will extend beyond financial gains, as it aligns perfectly with the nation’s larger vision of achieving energy independence while preserving the environment for future generations.
