India's SJVN, DVC team up on 2-GW solar plan

Solar module. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.

December 24 (Renewables Now) - Indian power companies SJVN Ltd (NSE:SJVN) and Damodar Valley Corporation (DVC) on Thursday announced the signing of a memorandum of understanding with an eye to developing around 2 GW of solar generation.

The companies will work together to identify suitable water bodies and land in their areas of operation and will explore the creation of a joint venture. DVC manages large water bodies that could host floating solar farms, according to the announcement.

The initiative is in line with India's commitment to having 500 GW of non-fossil fuel energy capacity by 2030. It will also help SJVN expand pan India and reach its significant capacity addition objectives, its chairman and managing director Nand Lal Sharma says in the statement.

SJVN was formed as a joint venture between the government of India and the government of the northern state of Himachal Pradesh. DVC is a government organisation operating in Damodar valley in the Indian states of Jharkhand and West Bengal. Its activities also include water management, transmission and mining.

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Browse all articles from Plamena Tisheva

Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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