SJVN signs MoUs with ONGC, SSL to develop solar projects

State-owned SJVN Ltd has signed inked pacts with Oil & Natural Gas Corp. (ONGC) and Sambhar Salts Ltd. (SSL), a subsidiary of Hindustan Salts Ltd., for development of solar parks and projects.

The joint development of the projects will be undertaken with the formation of a joint venture between SGEL, a wholly owned subsidiary of SJVN and ONGC. The MoU with Sambhar Salts has been signed for the development of solar projects/parks in phased manner by SGEL on the identified land bank of SSL.

Both the parties shall explore avenues for equity partnership, revenue sharing mechanism for development of solar projects through project specific implementation agreements.

These developments will strengthen the footprints of SJVN in renewable energy sector and will help in achieving its ambitious shared vision of 50,000 MW installed capacity by 2040.