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SJVN announced that SJVN Green Energy (SGEL), a wholly owned subsidiary of the Company, has inked two MOUs, one with ONGC and other with Sambhar Salts, a subsidiary of Hindustan Salts, on 9 August 2023.
The MOU with ONGC will pave the way for Joint Development of Renewable energy projects including Offshore & Onshore Solar, Wind, Hybrid, RTC Projects and also includes venturing into New Technologies like Green Hydrogen, Green Ammonia etc. This Joint development of
projects shall be done by formation of a Joint Venture Company between SGEL & ONGC for which necessary approvals from respective Ministries, DIPAM and NITI Aayog shall be taken subsequently.
Further, the MOU with Sambhar Salts will pave the way for Development of Solar Project/Park in Phases by SGEL on the identified land bank of Sambhar Salts. Both the parties shall explore and discuss the ways and means for equity partnership, Revenue sharing Mechanism for Solar Project development through project specific Implementation Agreements.
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