India's SJVN to enter 1-GW floating solar development JV in Assam

The green energy arm of Indian state-owned power generator Satluj Jal Vidyut Nigam (SJVN) has signed a Memorandum of Understanding (MoU) with Assam Power Distribution Co Ltd (APDCL) to develop 1 GW of floating solar projects in the northeastern state of Assam.

The schemes will be developed through a joint venture between the two companies, SJVN announced in a bourse filing on Monday. The power producer, which is focused on hydroelectric power generation and transmission, will pour INR 60 billion (USD 73m/EUR 741m) into the initiative.

When installed, the proposed capacity will result in the production of close to 2,200 million kWh of electricity in the first year. It will be mounted across several wetlands totalling more than 4,500 ha (11,200 acres) of water area. According to the duo’s estimates, the project will create around 4,000 direct and indirect jobs during the construction and operation phases.

“This project will bring in multiple avenues of employment, boost local businesses, green power generation, carbon emission reduction and overall socio-economic development in Assam,” said Nand Lal Sharma, chairman and managing director of SJVN.

The floating solar power potential in Assam is estimated at about 3 GW.

(INR 10 = USD 0.122/EUR 0.123)

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