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SJVN Limited, a Mini Ratna, joint venture of the Government of India (GOI) and the Government of Himachal Pradesh (GOHP) and Damodar Valley Corporation (DVC) have inked an MoU for harnessing 2000 MW floating solar energy projects in their command areas.
As per the Memorandum of Understanding, SJVN and DVC will jointly identify suitable water bodies and available land under the SJVN and DVC command areas for setting up renewable power projects, a statement said.
This initiative is in line with the renewable energy target set by the Centre and it would enable SJVN in expanding its footprint across India, said the SJVN Chairman & Managing Director Nand Lal Sharma.
Under the MoU, SJVN and DVC will explore the formation of a joint venture for development of renewable energy projects at different locations within their command areas, he added.
At the UN Climate Change Conference (COP26), Prime Minister Narendra Modi affirmed India’s intent of generating 500 GW of renewable energy by 2030.
DVC has large water bodies under its management, which can be harnessed for solar power by setting up floating solar energy farms.
The MoU was signed by Akhileshwar Singh, Director (Finance), SJVN and M Raghuram, Member (Technical) DVC in the presence of senior officials of the companies