SJVN and DVC ink MoU for floating solar power projects

New Delhi: SJVN Limited said on Thursday that it has entered into a memorandum of understanding (MoU) with Damodar Valley Corporation (DVC) for harnessing potential solar energy of about 2,000 MW available under the DVC command area and setting up floating solar power projects. SJVN and DVC will jointly identify suitable water bodies and available land under the SJVN and DVC command area for setting up renewable power projects.

The MoU was signed by SJVN Limited's Director (Finance) Akhileshwar Singh and DVC Member (Technical) M Raghuram at the Damodar Valley Corporation's office in Kolkata in the presence of senior officials of SJVN and DVC. Recently, at UN Climate Change Conference (COP-26), Prime Minister Narendra Modi has stated India's intent of generating 500 GW of renewable energy by 2030.

SJVN Limited's Chairman & Managing Director (CMD) Nand Lal Sharma informed that this initiative is in line with the target set by the government and it would enable SJVN in expanding its footprint in India, as well as, achieving its shared vision of capacity addition of 5,000 MW by 2023, 12,000 MW by 2030 and 25,000 MW by 2040.

Sharma also stated that under the MoU signed Thursday, SJVN and DVC will explore the formation of a joint venture company for the development of renewable energy (RE) projects at a different location within the command areas of SJVN and DVC. DVC has large water bodies under its management, which can be harnessed for solar power by setting up floating solar energy farms.

The government of India has envisaged a vision of uninterrupted and affordable clean power to all 24X7.

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