In a significant development within the framework of the India-Norway Task Force for Energy, SJVN Green Energy Limited (SGEL), a wholly-owned subsidiary of SJVN Limited, has entered into a Memorandum of Understanding (MoU) with M/s Ocean Sun of Norway. This collaborative effort focuses on advancing new technologies in the Green and Clean Energy sector.
The key highlight of the MoU is the commitment of SGEL to spearhead the development and financing of a Pilot Membrane-based Floating Solar Project, with a capacity of approximately 2 MW. This pioneering project is set to be established in a location of strategic importance within India. Crucially, M/s Ocean Sun, Norway, will provide vital patented technological support, underscoring the collaborative and innovative nature of this partnership.
This MoU represents a pivotal step in the exchange of technological knowledge and cooperation between the two countries, fostering the spirit of international collaboration. The successful implementation of the pilot project will unlock the potential for a large-scale expansion of this groundbreaking technology along the extensive coastline of southern India.
Aligned with the vision of the Government of India to achieve 50% of its energy from non-fossil fuel sources by 2030, SJVN has positioned itself as a strategic and dependable partner in the country’s clean energy transition. This venture marks a significant contribution to ensuring round-the-clock power availability to all citizens.
Sh. Nand Lal Sharma (Chairman & Managing Director, SJVN), while elaborating on the MoU, emphasized that SGEL’s role as a wholly-owned subsidiary of SJVN is instrumental in the development and financing of the 2 MW Pilot Membrane-based Floating Solar Project. This undertaking benefits from the invaluable technological expertise provided by M/s Ocean Sun, Norway. The MoU catalyzes the transfer of technology and knowledge between the two nations. Upon the successful implementation of the pilot project, both SGEL and M/s Ocean Sun are poised to embark on a journey to expand this transformative technology along the extensive southern coastline of India.
This historic MoU was signed in the presence of notable dignitaries, including Ms. May-Elin Stener, Ambassador of Norway to India, Sh. Dinesh Dayanand Jagdale, Joint Secretary of the Ministry of New and Renewable Energy (MNRE), Sh. Akhileshwar Singh, Director (Finance) of SJVN, and Sh. Ajay Singh, CEO of SGEL, and CEO of M/s Ocean Sun, Norway.
The signing of this MoU reinforces SJVN’s position in the renewable energy sector and is a significant stride toward realizing the Government of India’s target of achieving 50% installed capacity from non-fossil fuel sources by 2030. This collaboration is also aligned with SJVN’s ambitious mission to reach 12,000 MW by 2026 and its shared vision to achieve 50,000 MW installed capacity by 2040. This partnership represents a pivotal moment in advancing the global energy transition and securing a sustainable future.