In a groundbreaking move towards bolstering the renewable energy landscape, SJVN has officially entered into separate Memorandums of Understanding (MoUs) with Oil & Natural Gas Corporation (ONGC) and Sambhar Salts Limited (SSL), a subsidiary of Hindustan Salts Limited. The agreements were announced by Nand Lal Sharma, the Chairman & Managing Director of SJVN.
The collaboration with ONGC is set to revolutionize the renewable energy sector, as Nand Lal Sharma explained. The MoU outlines a visionary partnership for the joint development of an array of renewable energy projects, encompassing both Offshore & Onshore Solar, Wind, Hybrid and Real-Time Control (RTC) projects.
Notably, this partnership will extend its scope to cutting-edge technologies like Green Hydrogen and Green Ammonia. The strategic execution of these projects will be facilitated through the establishment of a Joint Venture Company, bringing together SGEL, a fully owned subsidiary of SJVN, and ONGC.
Meanwhile, the MoU inked with Sambhar Salts Limited (SSL) signals another significant stride in SJVN’s expansion into the renewable energy sector. This agreement lays the groundwork for the phased development of Solar Projects/Park by SGEL, capitalizing on the identified land bank of M/s SSL. Nand Lal Sharma elaborated on this, emphasizing that both parties are committed to exploring avenues for equity partnership and implementing a revenue-sharing mechanism. These mechanisms will be governed by project-specific Implementation Agreements, facilitating the seamless development of solar projects.
