New Delhi: State-owned SJVN Limited in a regulatory filing on Wednesday that it has officially signed a Memorandum of Understanding (MoU) with Maharashtra State Power Generation Company (MAHAGENCO) to collaboratively pursue the development of 5,000 MW renewable energy projects in Maharashtra.
The MoU signifies a significant milestone in SJVN Limited's commitment to expanding its renewable energy footprint. Through this strategic partnership, the company aims to explore the feasibility of implementing a diverse range of renewable projects in Maharashtra, including hydro, pumped storage, wind, solar, hybrid, and green hydrogen initiatives. By leveraging MAHAGENCO's expertise and resources, SJVN Limited intends to tap into Maharashtra's immense potential for clean energy generation.
Additionally, the collaboration paves the way for SJVN Limited and MAHAGENCO to jointly participate in tenders issued by Maharashtra government for the renovation and modernisation of small hydropower stations. This collaboration not only presents an opportunity for infrastructure rejuvenation but also enhances the efficiency and sustainability of existing hydropower assets.
SJVN Limited's project portfolio receives a significant boost with the signing of this MoU, now amounting to an impressive 54,065 MW. Out of this total capacity, 2,091.5 MW is already operational, while the remaining projects are progressing through various stages of development. The company remains steadfast in its commitment to achieving its shared vision of 5,000 MW by 2023-24, 25,000 MW by 2030, and an ambitious target of 50,000 MW capacity by 2040.
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