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SJVN virtually sign MoU with IREDA for development of Green Energy Projects

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SJVN signs MoU with IREDA for Green Energy ProjectsOn December 7, 2020, SJVN Limited signed a Memorandum of Understanding (MoU) with Indian Renewable Energy Development Agency Limited (IREDA) for Green Energy Projects through virtual mode. As per the MoU, IREDA will provide services to SJVN for development of Green Energy Projects, and help SJVN in devising an action plan to create and acquire Renewable Energy Projects for the next 5 years.

Signed by:

i.The MoU was signed by NandLal Sharma, Chairman cum Managing Director (CMD) of SJVN & Pradip Kumar Das, CMD, IREDA in a virtual mode.

ii.It was signed in the presence of Akhileshwar Singh, Director (Finance), SJVN, Surinder Pal Bansal, Director (Civil), SJVN, Chintan Shah, Director (Technical), IREDA.

Key Points:

i.As part of the MoU, IREDA will undertake Techno-Financial due diligence (identifying suitable technology for particular project sites) for the projects of SJVN.

ii.The partnership is expected to improve the knowledge and technology transfer between the two agencies and will also provide consultancy & research services.

iii.SJVN is also in the process of developing a 100 MW Dholera Solar Power Project, Gujarat & 100 MW Raghanseda Solar Power Project in Gujarat.

iv.SJVN is working towards realizing India’s Renewable Energy target of 175 GigaWatts (GW) by 2022.

Fact:

India Targets 175 GW Renewable Energy by 2022 – 100 GW Solar, 60 GW Wind, 10 GW Bio-Energy, 5 GW Small Hydro.  89.63 GW of Renewable Energy has already been installed by India.

SJVN & IREDA:

i.SJVN is a Joint Venture (JV) between Government of India & Government of Himachal Pradesh. It is listed as a Mini Ratna, Category-I and Schedule- ‘A’ CPSE under the administrative control of Ministry of Power.

ii.IREDA is also a Mini Ratna (Category- I) Government of India Enterprise under the administrative control of the Ministry of New & Renewable Energy (MNRE).

Recent Related News:

i.On November 2, 2020, Indian Renewable Energy Development Agency Limited (IREDA) signed a Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), Government of India setting key targets for the year 2020-21.

About SJVN Ltd:
Chairman & Managing Director – Nand Lal Sharma
Head Office – Shimla, Himachal Pradesh

About Indian Renewable Energy Development Agency Limited (IREDA):
Chairman & Managing Director – Pradip Kumar Das
Headquarters – New Delhi