SJVN unit, GRIDCO to form JV for 3,000MW hydro, solar project

The projects are expected to attract Rs 20,000 in investment in Odisha.

SJVN subsidiary, SJVN Green Energy Limited signed a memorandum of understanding with the Grid Corporation of Odisha (GRIDCO) to form a joint venture company for the development of a 1,000-megawatt (MW) hydroelectric and 2,000MW solar project in Odisha.

In a statement, SJVN said the two projects may bring in Rs 20,000 crores of investments in Odisha. 

The 2,000MW solar project is expected to generate 4,207 million united in the first year and a total of 96797 million units for 25 years.

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The projects are expected to reduce carbon emissions to 206143 tonnes in the first year and 4743053 tonnes for its lifespan.

SJVN’s portfolio is around 42,000MW, around 97% of which was based on non-fossil fuel resources.