SJVN Green Energy, an arm of state-owned hydropower producer SJVN, today signed a memorandum of understanding (MoU) with Assam Power Distribution Co. Ltd (APDCL) to develop 1 GW of floating solar project in Assam. The proposed project will be built with an estimated investment of INR 6,000 crore ($728.54 million) and come up on various wetlands in the state.
The MoU is part of the agreement between the two parties to develop renewable energy generation in the state.
“In days to come, the aim is reach 5 GW floating power project capacity as the actual agreement [with SJVN Green Energy] translates into reality,” said Himanta Biswa Sarma, chief minister of Assam.
SJVN Green Energy will develop the 1 GW floating PV project in a joint venture with APDCL. It will hold a 51% stake in the JV with APDCL owning the balance 49%.
“Recently, the Assam govt signed another MoU with NLC Ltd for producing 1 GW of solar power. It has also received funding from the Asian Development Bank (ADB) to generate another 1 GW of solar power in-house without any partner. The project will be developed by APDCL with funding support from ADB,” said Sarma.
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