Both Companies Ink MoU
NEW DELHI, Feb 16 (The CONNECT) -SJVN Limited has entered into an MOU with Rajasthan Electronics and Instruments Limited (REIL) for providing consultancy services in Development of Solar Energy Projects to be set up by SJVN in different locations across the country.
REIL is a Government of India Enterprise under administrative control of Ministry of Heavy Industries, having the mandate to implement and promote Solar PV Projects of Ministry of New & Renewable Energy.
The MOU was signed by A K Singh, Director (Finance), SJVN and Rakesh Chopra, Managing Director, REIL.
CMD of SJVN Nand Lal Sharma informed that under the MOU, SJVN will develop the Solar Power Projects at suitable locations with the help of and REIL.
SJVN has a portfolio of 41 projects of 16422 MW capacity and has already won 1670 MW Solar Power capacity through a competitive Bidding Process. The company is targeting capex of Rs 8,000 crore in FY23, Sharma said.
SJVN will rely on a variety of sources for funding, like debt-free cash flow from other projects, the bond market, ECB, etc for funding of its capacity expansion.
SJVN has its presence in the States of Himachal Pradesh, Bihar, Maharashtra, Uttar Pradesh, Uttarakhand, Gujarat, Rajasthan, Punjab, Arunachal Pradesh in India and Nepal and Bhutan internationally.