SJVN, Damodar Valley Corporation Ink MoU for Floating Solar Projects

SJVN Ltd has entered into a MoU (Memorandum of Understanding) with Damodar Valley Corporation (DVC) for harnessing the potential solar energy of about 2,000 MW available under the DVC Command Area.

Under the MoU, the two organisations 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 Akhileshwar Singh, Director (Finance), SJVN and M. Raghuram, Member (Technical) Damodar Valley Corporation in the presence of senior officials of SJVN and DVC.

Recently at UN Climate Change Conference (COP26), Prime Minister Narendra Modi has stated India’s intent of generating 500 GW of renewable energy by 2030.

Nand Lal Sharma, Chairman & Managing Director, SJVN informed that this initiative is in line with the target set by the Government of India and it would enable SJVN in expanding its footprint pan India, as well as, achieving its shared vision of capacity addition of 5000 MW by 2023, 12000 MW by 2030 and 25000 MW by 2040.

N.L.Sharma also stated that under the MoU signed, SJVN and DVC will explore the formation of a Joint Venture Company for development of Renewable Energy Project at 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.