In a significant move towards advancing clean and green energy initiatives, Nand Lal Sharma, the Chairman & Managing Director of SJVN, has announced the signing of a Memorandum of Understanding (MoU) with M/s Ocean Sun, Norway, aimed at fostering collaboration in cutting-edge technologies within the renewable energy sector.
Under this pivotal MoU, SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN, will spearhead the development and financing of a groundbreaking Pilot Membrane-based Floating Solar Project, boasting a capacity of approximately 2 MW. This pioneering venture is set to be established at a strategically chosen location within India, with M/s Ocean Sun, Norway, contributing its patented technological expertise to the project.
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This partnership is anticipated to facilitate the exchange of technological knowledge and promote cooperation between the two nations. As the pilot project progresses successfully, the two companies are poised to scale up this innovative technology across the expansive coastline in the southern region of India. The formal signing of the MoU took place in the presence of Ms. May-Elin Stener, the Ambassador of Norway to India, Dinesh Dayanand Jagdale, Joint Secretary of MNRE, Akhileshwar Singh, Director (Finance) at SJVN, Ajay Singh, CEO (SGEL), and the CEO of M/s Ocean Sun, Norway.
This collaboration marks a significant stride for SJVN in the renewable energy sector and aligns with the Government of India’s ambitious goal to achieve 50 percent installed capacity from non-fossil fuel sources by 2030. It also contributes to SJVN’s corporate mission to reach 12,000 MW by 2026 and participate in the ambitious shared vision of achieving 50,000 MW of installed capacity by 2040. This partnership not only underscores SJVN’s commitment to green and clean energy but also signifies its dedication to advancing sustainable solutions that will benefit both the nation and the global environment.
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