New Delhi: State-owned Satluj Jal Vidyut Nigam Limited (SJVN) said on Tuesday that it has signed a memorandum of understanding (MoU) with Bharat Heavy Electricals Limited (BHEL) for the development of solar power projects in India. The MoU aims at building a strategic partnership between the two PSUs for jointly pursuing commercial solar power projects through participation in tariff/viability gap funding based competitive bidding process.
Under the MoU, BHEL will be an engineering, procurement, construction and project management contractor for SJVN projects. Additionally, BHEL will also provide operation and maintenance services after the commissioning of the projects.
SJVN has, so far, commissioned five projects, including wind and solar, of 2015.2 MW of installed capacity. The PSU is currently involved in the development of power projects in the states of Himachal Pradesh, Uttarakhand, Bihar, Maharashtra and Gujarat and in neighbouring countries like Nepal and Bhutan.
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The MoU is aimed at making SJVN a 5,000-MW company by 2023 and push its total installed capacity further to 25,000 MW by 2040.