SJVN Chairman and Managing Director Nand Lal Sharma, the 1,200 MW Teesta-III Hydro Electric Project's 180 MW units will be traded to distribution licensees and open access consumers under a memorandum of understanding (MoU) signed with Sikkim Urja Ltd. SJVN's first venture in Sikkim will be this. According to Sharma, the SJVN has been given a Category-I power trading licence by the Central Electricity Regulatory Commission for the purpose of selling electricity between states. The organisation is concentrating on resolving seasonal and regional variations in supply and demand as well as meeting the demand for power supply.
"Our trading business is expanding, and this MoU will act as a booster to the growth engine of SJVN and will enable us to assist the government of India in fulfilling its vision of 24X7 Power to all," he said in a statement. Akhileshwar Singh, Director (Finance) SJVN, and S Sunil, Executive Chairman, Sikkim Urja Ltd. were present when the MoU was signed in New Delhi.
The Ministry of New and Renewable Energy has also designated the SJVN as the renewable energy implementing agency for the tariff-based competitive bidding process for the procurement of renewable power. SJVN is now able to offer solutions for 24/7 electricity thanks to such MoUs.
The SJVN project portfolio currently stands at 55,814 MW. The company is moving quickly towards realising its common objective of having installed capacity of 5,000 MW by 2023–2024, 25,000 MW by 2030, and 50,000 MW by 2040. By 2030, the utility wants to generate 50% of its energy from sources other than fossil fuels.
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