SJVN Green Energy Limited incorporated JV with Assam Power Distribution Company – EQ
In Short – The incorporation of SJVN Green Energy Limited’s joint venture with Assam Power Distribution Company marks a notable collaboration in renewable energy. This partnership is poised to contribute significantly to Assam’s power sector, advancing sustainable energy initiatives and enhancing energy accessibility in the region.
In Details – According to the exchange filing, the wholly owned subsidiary of the Company SJVN Ltd. i.e., SJVN Green Energy Limited has incorporated a Joint Venture Company with Assam Power Distribution Company Limited named “SGEL Assam Renewable Energy Limited” issued by the Ministry of Corporate Affairs, Government of India.
The Authorized Capital for the incorporation is Rs1000 crore (Rupees One Thousand Crore only). The Joint Venture Company shall carry out business in the field of Power Generation from all renewable energy sources including Hydro Power by setting up power plants.
Therefore, SGEL Assam Renewable Energy Limited is incorporated as a Joint Venture Company between SJVN Green Energy Limited and Assam Power Distribution Company Limited.
The approvals were taken from authorities like NITI Aayog, DIPAM (Department of Investment and Public Asset Management), Ministry of Finance, Ministry of Power, Government of India, etc.
SJVN Green Energy Limited will hold 51% of SGEL Assam Renewable Energy Limited.
