India's SJVN gears for 1 GW of wind, solar in 5 yrs - report
Wind turbines in India. Featured Image: OlegD/Shutterstock.com
Indian clean power producer Sutlej Jal Vidyut Nigam (BOM:533206), or SJVN, has committed to add 1,000 MW of wind and photovoltaic (PV) capacity at home by 2020, a company official told Bloomberg TV India.
The firm, which has already made its first steps in the domestic renewable energy sector, plans to deploy between 200 MW and 300 MW by fiscal 2017 alone, chairman Ramesh Narain Misra was quoted as saying on Tuesday.
As for SJVN’s entire power portfolio, it is expected to reach 10,000 MW by 2022. In order to achieve its target, the company expects to pour roughly INR 400 billion (USD 6.14bn/EUR 5.41bn) into 6,000 MW of solar, wind, thermal and hydropower plants (HPP), according to the report. Around 30% of the required investment will be equity and the remainder will be secured by way of loans.
SJVN, a joint venture (JV) between the Central and Himachal Pradesh governments, in February unveiled plans for a huge hybrid renewable energy park in Gujarat. Information on the firm’s website indicates that the complex may have 3.5 GW-4.2 GW of solar power generation capacity and 600 MW-800 MW of wind turbines.