Shimla: State-run Miniratna Power PSU SJVN Limited has signed an MoU with the state government of Himachal Pradesh for the development of '430 MW Reoli Dugli hydroelectric project' on Chenab basin on Wednesday.
The MoU was signed by SJVN Limited's Chairman and Managing Director (CMD) Nand Lal Sharma and Chief Minister of Himachal Pradesh Jai Ram Thakur during the 'Rising Himachal Global Investor's Meet' at Dharamshala, Himachal Pradesh.
In addition to this, SJVN Limited will also implement seven more hydro-electric projects of the total capacity of 1,958 MW with the government of Himachal Pradesh in the state. In this regard, the PSU had already signed seven MoUs with the state government on September 25, the PSU said in a press release.
During the MoU signing, SJVN's CMD said that the projects will act as a multiplier for employment generation and the overall growth of the entire state. These projects based on the Satluj, the Beas and the Chenab basin in Himachal Pradesh will usher in an investment of Rs 24,000 crores, bringing in economic development and employment generation from the projects is expected for 11,950 persons. With the signing of this project, these recently signed eight projects will add to 2,388 MW of electricity.
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Sharma further said that the company is continuously contributing to the development of the state and till date SJVN has paid a total dividend of Rs 1,711.88 crores to the government on an investment of Rs 1,055.01 crores. He also assured that the projects will be completed in a time-bound manner as hydropower is the core strength of the company. Presently, SJVN is generating 2,015.2 MW of power from its operational projects.
SJVN Limited is in the process of developing power projects which are in different stages of development in India as well as the neighbouring countries Nepal and Bhutan. The completion of these projects will add 5,564 MW of capacity. As a part of the plan for achieving 5000 MW installed capacity by 2023, 1,2000 MW by 2030 and 25000 MW by 2040, SJVN has formulated aggressive strategies which include both organic as well as inorganic modes for growth.