SJVN, Grid Corporation of Odisha to form JV for hydro, solar projects – EQ Mag
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New Delhi : State-run SJVN Ltd on Thursday said its arm SJVN Green Energy and Grid Corporation of Odisha (GRIDCO) will form a joint venture to develop a 1,000 MW hydro electric project and 2,000 MW solar project entailing an investment of Rs 20,000 crore.
The two companies signed a Memorandum of Understanding (MoU) at Bhubaneswar for developing hydro and solar projects by incorporating a joint venture company, SJVN said in a statement.
“This MOU will pave a way for formation of Joint Venture between SGEL and GRIDCO for generating green power, new direct & indirect employment opportunities, boost to local businesses, carbon emission reduction, sustainable and overall development of the state. This will also enhance green generation capacity and will help in meeting the Renewable Purchase Obligation target of Odisha,” SJVN Chairman & Managing Director Nand Lal Sharma said.
Source: PTI
