SJVN inks MoU with REMC, BHEL for development of RE projects for the Indian Railways
SJVN (Satluj Jal Vidyut Nigam) has announced that it has entered into a Landmark MoU with REMC (Railway Energy Management Company) Limited and BHEL (Bharat Heavy Electricals Limited) for the development of renewable energy projects for the Indian Railway.
The signing of the MoU would usher in a new era of more efficient consumption of power in Railways, while also leading to more competitive tariffs, for the overall benefit of consumers.
Mr. Nand Lal Sharma informed that under the MOU signed, all the parties will work together to leverage their core strength in project development for the establishment of renewable energy projects for use by the Indian railway.
Mr. Sharma also informed that SJVN Limited has an ambitious target for the development of RE Energy. This MOU will be a step toward meeting the SJVN target of RE Energy as well as the Indian Railway's target of becoming a Net Zero Carbon Emission Mission by the Year 2030.
In the backdrop of Hon'ble Prime Minister Mr. Narendra Modi's commitment to generate 500 GW of energy by 2030 from Non-Fossil Sources, the Government of India is focusing on the development of renewable sources. SJVN is adding significant capacities to its portfolio to pursue this vision. At present, the company has twelve Solar Power Projects of 3065 MW capacity under various stages of development with a total portfolio of more than 16900 MW.
The MOU was signed by Mr. R K Gupta, CGM, BDE SJVN Limited, Mr. Rupesh Kumar, GM, REMC Limited, and Mr. Sudripto De, AGM, BHEL. On this occasion, Mr. A K Singh, Director (Finance) SJVN Limited, Mr. Ajay Kumar Singhal, CEO, of REMC Limited and other officers of SJVN, BHEL and REMCL were also present.