SJVN unit, Assam discom to form JV to set up 1kMW floating solar projects

State-owned SJVN said its arm SJVN Green Energy and Assam's power distribution company APDCL have inked a pact to form a joint venture to set up 1,000 MW floating solar projects in Assam

State-owned SJVN on Monday said its arm SJVN Green Energy and Assam's power distribution company APDCL have inked a pact to form a joint venture to set up 1,000 MW floating solar projects worth Rs 6,000 crore in Assam.

Nand Lal Sharma, Chairman & Managing Director, SJVN, informed in a statement that a Memorandum of Understanding (MoU) has been signed between SJVN's wholly-owned subsidiary SJVN Green Energy Ltd (SGEL) and APDCL (Assam Power Distribution Company Ltd) in Guwahati.

According to the statement, the MoU has been inked for developing 1,000 MW floating solar power projects in Assam by incorporating a joint venture company in the presence of the state chief minister Himanta Biswa Sarma.

The MoU was signed by Sharma and APDCL managing director Rakesh Kumar.

Sharma said that the project will generate 2,192 million units in the first year after commissioning, and around 50,425 million units cumulative energy will be generated over 25 years.

An investment of Rs 6,000 crore will be made by SJVN in the state for developing the project. During construction and operation stages, around 4,000 persons will get direct and indirect employment.

Carbon emissions reduction to the tune of 1,07,383 tonnes in the first year and 24,70,732 tonnes during the complete life span will be achieved from this project.

"SJVN is keen to be the partner in progress of Assam and development of green energy of state. This project will bring in multiple avenues of employment, boost to local businesses, green power generation, carbon emission reduction and overall socio- economic development in Assam," Sharma said.

Assam has the floating solar power generation potential of around 3,000 MW out of which SJVN would develop 1,000 MW projects and the same shall be spread over 4,500 hectares of water area.

This will save around 2,500 hectares of land as floating solar power projects does not require any land levelling, removal of vegetation or any displacement.

The present total portfolio of SJVN is around 42,000 MW and out of this around 97 per cent is based on non-fossil fuel sources with presence pan-India and in neighbouring countries of Nepal and Bhutan.