SJVN to form 3-GW solar, hydro JV in India's Odisha

Indian state-owned power generator Satluj Jal Vidyut Nigam (SJVN) has agreed to set up a joint venture (JV) with Grid Corporation of Odisha to develop 3 GW of solar and hydropower projects in the Eastern Indian state of Odisha.

The partners have signed a Memorandum of Understanding (MoU) outlining their plans, SJVN said in a regulatory filing last week. The power generation group will take part in the initiative through its subsidiary SJVN Green Energy Ltd.

Under the plan, the duo intends to deploy 2 GW of solar photovoltaic (PV) and 1 GW of hydropower capacity, expecting the projects to attract some INR 200 billion (USD 2.45bn/EUR 2.32bn) in investments. Once up and running, the power plants are estimated to have a combined output totalling 4,207 GWh of electricity annually and help save some 206,000 tonnes of carbon dioxide (CO2) emissions.

The JV plan aligns with SJVN’s strategy for 5 GW of installed renewables capacity by 2023 and 50 GW by 2040. It comes on the heels of a MoU with Assam Power Distribution Co Ltd (APDCL) for a JV aiming to develop 1 GW of floating solar projects in the northeastern state of Assam.

(INR 10 = USD 0.122/EUR 0.116)

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