SJVN Signs MoU with Rajasthan Govt. for Developing 10 GW Renewable Energy

Shimla, 25 August 2022 : Shri Nand Lal Sharma, Chairman & Managing Director, SJVN informed that in a major achievement today, SJVN has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan for developing 10 GW renewable energy projects/parks in the state of Rajasthan. With the addition of 10,000 MW capacity, the portfolio of SJVN has now reached 42,000 MW.

The MOU was signed by Shri N L Sharma, Chairman & Managing Director, SJVN and Shri Bhaskar Sawant, Principal Secretary (Energy), Govt. of Rajasthan in the august presence of Chief Minister of Rajasthan Shri Ashok Gehlot, in New Delhi today.

On this occasion, Industries Minister of Rajasthan, Smt. Shakuntala Rawat, Director (Personnel) SJVN Smt. Geeta Kapur, Director Finance, SJVN Shri A K Singh, CEO, SJVN Green Energy Limited Shri S L Sharma and other senior officials of Government of Rajasthan & SJVN were also present.

Shri N lL Sharma apprised that SJVN will establish the 10,000 MW renewable energy projects/parks on the land banks to be allocated by Rajasthan Renewable Energy Corporation Limited in the state. An investment of around Rs 50,000 crore will be made for developing these projects in the next five to seven years. These projects/parks will usher in socio-economic development in the state and will open up multiple direct and indirect employment opportunities.

Shri N L Sharma further said that “With this massive portfolio addition, we are contributing to meeting the growing need for carbon emission-free and cost-effective energy to strengthen the sustainable development of the nation. These projects/parks will not only reduce the country’s reliance on fossil fuels but will also help in mitigating effects of climate change which has become a cause of concern for all.”

Under the dynamic leadership of Hon’ble Prime Minister Shri Narendra Modi, the Government of India is focusing on the transition to green energy generation from non-fossil fuel-based resources and SJVN has re-engineered its business model in sync with this commitment. This exponential addition in the RE portfolio has catapulted SJVN closer to achieving the Shared Vision of 5000 MW by 2023, 25000 MW by 2030 & 50000 MW by 2040.

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