SJVN signs MoUs with ONGC, SSL to develop solar projects

SJVN Ltd, a state-owned company, has signed preliminary agreements for the development of solar parks and projects with the Oil & Natural Gas Corporation (ONGC) and Sambhar Salts Limited (SSL), a division of Hindustan Salts Limited. According to a statement by SJVN Ltd's CMD, Nand Lal Sharma, the company has signed two Memorandums of Understanding (MoUs) with ONGC and SSL.

The agreement with ONGC "will open the door for joint development of renewable energy projects including offshore and onshore solar, wind, hybrid, round-the-clock (RTC) projects, and venturing into new technologies such as green hydrogen, green ammonia, etc.," he said.

Sharma, the projects would be carried out by a joint venture business between ONGC and SJVN Green Energy Ltd (SGEL), a fully owned subsidiary of SJVN. According to the MoU with Sambhar Salts, SGEL will gradually establish solar projects/parks on the designated SSL land bank.

Additionally, Sharma stated that "both the parties shall explore avenues for equity partnership, revenue sharing mechanism for development of solar projects through project specific implementation agreements."