Hydropower major SJVN signs two pacts with Maharashtra

Shimla: Hydropower major SJVN on Thursday signed two Memorandum of Understanding (MoUs) with the Maharashtra government for the development of pumped storage projects and floating solar projects of Rs 48,000 crore.

The pacts were signed in Mumbai in the presence of Deputy Chief Minister Devendra Fadnavis, who holds an Energy portfolio.

The first pact was inked between SJVN and Department of Water Resources for development of five pumped storage projects of total capacity of 8,100 MW. It was signed by Sushil Sharma, Chairman and Managing Director of SJVN, and Deepak Kapoor, Additional Chief Secretary, Water Resources Department.

The second pact was signed between SJVN and Maharashtra State Power Generation Company (MAHAGENCO) for the development of a 505 MW floating solar project at Lower Wardha Dam.

It was signed by Sushil Sharma, Chairman and Managing Director of SJVN, and P. Anbalagan, CMD, MAHAGENCO.

The Deputy Chief Minister congratulated SJVN, MAHAGENCO and the Water Resource Department on achieving this major milestone and extended support of the government for ensuring the timely execution and completion of these projects.

He said these MoUs would mark a new chapter in Maharashtra's energy infrastructure journey.

The 505-MW floating solar project will be developed in two phases. The first phase will be 100 MW and the second phase will be 405 MW. The phased development will ensure optimal use of existing power evacuation infrastructure and will provide a sustainable and reliable energy source for the region.

The 8,100-MW pumped storage projects include 800 MW Kolmondapada,1,500 MW Sidgarh, 2,000 MW Chornai, 1,800 MW Baitarni and 2,000 MW Jalvara pumped storage projects.

This pact will facilitate SJVN to undertake survey and investigation, preparation of DPR and further establishment of the projects in Maharashtra in a time-bound manner.

The total estimated investment on these projects will be to the tune of Rs 48,000 crore and will generate approximately 8,400 direct and indirect employment opportunities.

The projects will also support eco-tourism and skill development initiatives which will benefit the local communities.