SJVN has formed SJVN Green Energy Limited to develop renewable energy projects
SJVN Green Energy Ltd shall operate in the verticals of RE generation, such as Solar Parks, Wind and Hybrid Projects, Battery Energy Storage Systems, Biomass, Small Hydro, and Green Hydrogen based business operations..
SJVN’s Chairman & Managing Director, Shree Nand Lal Sharma, announces the incorporation of a fully owned subsidiary company ‘SJVN Green Energy Limited’ (SGEL). The new subsidiary company has been formed for the purpose of adding new spirit to the company’s vision of rapid capacity additions through new and renewable energy sources.
The Subsidiary Company shall operate in the verticals of renewable energy generation, such as Solar Parks, Wind and Hybrid Projects, Battery Energy Storage Systems, Asset Creations in Wave, Biomass, Small Hydro, and Green Hydrogen based business operations.
“Incorporated with an authorized and paid up capital of Rs 50 crores, SGEL shall act as a Special Purpose Vehicle of SJVN for the implementation of Renewable Projects across the country,” said Shree Nand Lal Sharma.
“The inclusion of SGEL strengthens our commitment to contributing to the achievement of the Government of India’s ambition of 500 GW capacity increases from non-fossil fuel resources by 2030,” he added
SGEL has been formed in accordance with the Ministry of New and Renewable Energy’s (MNRE) directives and approvals from the Ministry of Corporate Affairs of the Government of India. Shimla, Himachal Pradesh, would be the registered office of the subsidiary firm.
This is another significant achievement for SJVN, which has previously successfully operated two subsidiary companies. The subsidiary SJVN Arun -3 Power Development Company (SAPDC) was formed for the implementation of the 900 MW Arun-3 Project and associated Transmission System in Nepal. While the other subsidiary SJVN Thermal Private Limited (STPL) was for the execution of the 1320 MW Buxar Thermal Power Project in Bihar.
In light of PM Modi’s commitment to meet 50 percent of India’s energy needs through renewable energy by 2030, the government of India is already focusing on renewable energy development in the country. SJVN is expanding its portfolio to pursue this vision under the dynamic leadership of Prime Minister Modi and the guidance of Union Power Minister R. K Singh.
SJVN currently has a portfolio of more than 16900 MW and a presence in nine Indian states, as well as two neighboring countries, Nepal and Bhutan. SJVN has also diversified and ventured into Power Transmission and Power Trading, in addition to generating power through hydro, thermal, wind, and solar.
The Subsidiary Company SGEL will begin operations soon and will help SJVN add capacity more quickly. This addition to SJVN’s green energy portfolio will help the company meet its New Shared Vision of 5000 MW by 2023, 25000 MW by 2030, and 50000 MW by 2040.
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