New Delhi: State-owned SJVN Ltd has signed inked pacts with Oil & Natural Gas Corp. (ONGC) and Sambhar Salts Ltd. (SSL), a subsidiary of Hindustan Salts Ltd., for development of solar parks and projects.
“SJVN has signed separate Memorandums of Understanding (MoU) with Oil & Natural Gas Corporation (ONGC) and Sambhar Salts Limited (SSL), a subsidiary of Hindustan Salts Limited,” chairman and managing director Nand Lal Sharma said in a statement.
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”The MoU with ONGC will pave a way for joint development of renewable energy projects including offshore & onshore solar, wind, hybrid, round the clock (RTC) projects, venturing into new technologies such as green hydrogen, green ammonia etc,” he said.
The joint development of the projects will be undertaken with the formation of a joint venture between SGEL, a wholly owned subsidiary of SJVN and ONGC.
Sharma also informed that the MoU with Sambhar Salts has been signed for the development of solar projects/parks in phased manner by SGEL on the identified land bank of SSL.
He added that both the parties shall explore avenues for equity partnership, revenue sharing mechanism for development of solar projects through project specific implementation agreements.
These developments will strengthen the footprints of SJVN in renewable energy sector and will help in achievingits ambitious shared vision of 50,000 MW installed capacity by 2040.
