SJVN Green Forms JV with Assam DISCOM to Develop Renewable Projects

SGEL will own 51% shareholding of the newly formed JV


SJVN Green Energy (SGEL), a wholly owned subsidiary of SJVN, has signed a joint venture and shareholders agreement with Assam Power Distribution Company (APDCL) to execute renewable energy projects/parks within the APDCL or SJVN jurisdiction areas and on a pan-India basis.

SGEL will hold 51% of the ownership of the new JV company, while APDCL will own the remaining 49%.

SJVN has frequently collaborated with APDCL to encourage renewable energy project development within the state.

The company had signed a memorandum of understanding with APDCL in October 2022 to form a JV to set up 1,000 MW of floating solar power projects worth ₹60 billion ($721.19 million) in Assam.

In December 2023, SGEL invited bids to purchase or lease up to 1,000 acres of land in Assam for 28 years to develop 200 MW of solar power projects, including connectivity with the state transmission utility system.

In August last year, SGEL was awarded 320 MW of solar project development contracts by APDCL through three separate tariff-based competitive bidding tenders, i.e., 50 MW, 70 MW, and 200 MW.

The 50 MW and 70 MW projects will be developed under the solar park category at a tariff of ₹3.92 (~$0.0471)/kWh, and the 200 MW project is to be developed anywhere in Assam at a tariff of ₹3.90 (~$0.0469)

SGEL recently broke ground for a 50 MW solar power project at the Sitalmari village of Sonitpur district in Assam. The project is estimated to cost ₹2.91 billion (~$34.98 million).

The company is also in the process of establishing a JV with Maharashtra State Power Generation Company to develop 5,000 MW renewable energy projects. This is in addition to another JV with the Government of Arunachal Pradesh and Navyuga Engineering Company to execute the development of the 1,878 MW Oju Hydro Electric Project in Arunachal Pradesh.

In January 2024, SJVN announced that it had secured ₹100 billion (~$1.2 billion) construction financing facility to fund its upcoming renewable energy projects.

Recently, APDCL invited expressions of interest for project management consultant services for a 1,000 MW grid-connected solar project in Karbi Anglong district of Assam. The solar project, financed by the Asian Development Bank (ADB), is part of the ‘Mukhya Mantri Sauro Shakti Prokolpo’ initiative of the Assam government.