SJVN inks an MoU for power trading with Sikkim Urja Limited

New Delhi: SJVN Limited has inked a memorandum of understanding (MoU) with Sikkim Urja Limited (SUL) for power trading. In terms of MOU, SJVN shall trade 180 MW hydropower from SUL’s 1200 MW Teesta-III Hydro Electric Project in Sikkim to distribution licensees and open access consumers. This will be SJVN’s first venture in the State of Sikkim. This information has been given by SJVN Limited's CMD NL Sharma.

Sharma further apprised that Central Electricity Regulatory Commission (CERC) has granted Category- I Power Trading License for interstate trading of electricity to SJVN. The company is focusing on addressing seasonal and regional variance of demand & supply and fulfilling the power supply demand.

“Our trading business is expanding and this MoU will act as a booster to the growth engine of SJVN and will enable us to assist Government of India in fulfilling its vision of 24X7 Power to All,” said Sharma.

The MoU was signed in presence of SJVN Limited's Director (Finance) Akhileshwar Singh and Executive Chairman of SUL S Sunil, by the senior officials of SJVN and SUL in New Delhi on Thursday.

SJVN has also been designated as Renewable Energy Implementing Agency by Ministry of New & Renewable Energy for tariff-based competitive bidding process for the procurement of renewable power. Such MoUs are enabling SJVN to provide solutions for Round the Clock (RTC) Power.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram & Twitter as well. Join PSU Watch Channel in your Telegram and follow us on Twitter to stay updated)