SHIMLA : 03.08.2023
Nand Lal Sharma Chairman & Managing Director, SJVN informed that SJVN has inked a Memorandum of Understanding (MoU) with Sikkim Urja Limited (SUL). In terms of MOU, SJVN shall trade 180 MW hydro power from SUL’s 1200 MW Teesta-III Hydro Electric Project in Sikkim to Distribution Licensees and Open Access Consumers. This will be SJVN’s first venture in the State of Sikkim.
Nand Lal Sharma further apprised that Central Electricity Regulatory Commission has granted Category- I Power Trading License for interstate trading of electricity to SJVN. The company is focusing on addressing seasonal and regional variance of demand & supply and fulfilling the power supply demand.
“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 Government of India in fulfilling its vision of 24X7 Power to All.” said Sharma.
The MoU was signed in the august presence of Sh. Akhileshwar Singh, Director (Finance) SJVN, Sh. S Sunil Executive Chairman SUL, by the and senior officials of SJVN and SUL in New Delhi today.
SJVN has also been designated as Renewable Energy Implementing Agency by Ministry of New & Renewable Energy for Tariff based Competitive Bidding Process for procurement of renewable power. Such MoUs are enabling SJVN to provide solutions for Round the Clock (RTC) Power.
At present, the project portfolio of SJVN is 55814 MW. Company is on rapid progression to achieve its Shared Vision of 5000 MW by 2023-24, 25000 MW by 2030 & 50000 MW installed capacity by 2040. SJVN is also playing a pivotal role in achieving the target of 50% energy from non-fossil fuel-based energy resources by 2030.