SHIMLA: Satluj Jal Vidyut Nigam Limited (SJVN) has signed a MoU with Sikkim Urja Limited (SUL) for a hydro power trading deal in New Delhi today.
With the entry of SJVN in Power trading, this deal is set to redefine India's energy landscape and catapult SJVN into an influential position in the renewable energy sector.
SJVN will trade 180 MW of hydro power from SUL's Teesta-III Hydro Electric Project to Distribution Licensees and Open Access Consumers, said CMD, SJVN Nand Lal Sharma.
SJVN's first venture in Sikkim marks its presence in power trading sector.
Central Electricity Regulatory Commission has granted SJVN Category-I Power Trading License for interstate electricity trading, he informed.
Nand Lal Sharma said SJVN is enthusiastic about supporting the Government's vision of 24X7 Power to All.
The MoU was signed in the presence of Sh. Akhileshwar Singh, Director (Finance) SJVN, Sh. S Sunil Executive Chairman SUL by senior officials of SJVN and SUL in New Delhi today.
SJVN is designated as Renewable Energy Implementing Agency by Ministry of New & Renewable Energy, further strengthening its role in renewable power procurement.
SJVN aims for 5,000 MW by 2023-24, 25,000 MW by 2030, and an ambitious 50,000 MW installed capacity by 2040.
SJVN plays pivotal role in achieving 50% energy from non-fossil fuel-based resources by 2030,said Sharma.