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SJVN Limited, a joint venture between the Government of India and Himachal Pradesh, has signed a Memorandum of Understanding (MoU) with the Energy Department of Rajasthan to develop 7 gigawatts (GW) of renewable energy projects in the state.
The shares of SJVN Limited were trading at ₹107.90 up by ₹4.46 or 4.31 per cent on the NSE today at 11.15 am.
The agreement, signed in the presence of Rajasthan Chief Minister Bhajan Lal Sharma, outlines plans for 5 GW of Pumped Storage Projects and 2 GW of Floating Solar Projects. SJVN’s Director of Finance, Akhileshwar Singh, and RRECL Managing Director Om Kasera formalized the partnership.
The MoU demonstrates SJVN’s commitment to expanding its renewable energy portfolio, aligning with its vision of achieving 25,000 MW capacity by 2030 and 50,000 MW by 2040. The Navratna CPSE (Central Public Sector Enterprise) will collaborate with Rajasthan’s energy authorities on a long-term basis for these developments.
This agreement marks a significant step in Rajasthan’s renewable energy sector, combining both storage and solar capabilities. Pumped storage projects will help address power storage challenges, while floating solar projects represent an innovative approach to solar power generation.
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