SJVN joins hands with BHEL and REMC for development of RE projects for Railways

New Delhi: The green energy PSU, SJVN Limited has entered into a landmark MoU with REMC Limited and BHEL for the development of renewable energy projects (RE) for the Indian Railway. The signing of the MoU would usher in a new era of more efficient consumption of Power in Railways, while also leading to more competitive tariffs, for the overall benefit of consumers. This information has been given by SJVN Limited's Chairman & Managing Director (CMD) Nand Lal Sharma on Monday.

Sharma informed that under the MoU signed on Monday, all the parties will work together to leverage their core strength in project development for the establishment of renewable energy (RE) projects for use by the Indian Railway.

Sharma also informed that SJVN Limited has an ambitious target for the development of renewable energy. This MoU will be a step towards meeting SJVN's target of renewable energy as well as the Indian Railway's target of becoming a net-zero carbon emission mission by the year 2030.

In the backdrop of Prime Minister Narendra Modi's commitment to generate 500 GW of energy by 2030 from non-fossil sources, the Government is focusing on the development of renewable sources. SJVN is adding significant capacities to its portfolio to pursue this vision. At present, the company has 12 solar power projects of 3,065 MW capacity under various stages of development with a total portfolio of more than 16,900 MW.

The MoU has been signed by SJVN Limited's Chief General Manager (BDE) RK Gupta, REMC Limited's General Manager Rupesh Kumar and BHEL's AGM Sudripto De. On this occasion, SJVN Limited's Director (Finance) AK Singh, REMC Limited's CEO Ajay Kumar Singhal and other officers of SJVN, BHEL and REMCL were also present.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)