By: Vijay Kumar Verma, Editor-ICN Group
SHIMLA: In line with the Government of India’s “Vision of India 2022”, SJVN Limited has signed a MoU with NEEPCO to join hands for exploring power projects in India and abroad.
The MoU was signed by Nand Lal Sharma, Chairman & Managing Director, SJVN Limited and A.G.West Kharkongor, Chairman & Managing Director, NEEPCO at New Delhi.
The MoU provides a flexible framework under which both the PSUs will collaborate and co-operate for development of Power Projects in India and abroad and an immediate focus of Northeast and Eastern States of India. Both the parties also agreed to work in alliance in the forms of Joint Ventures (JVs), Special Purpose Vehicles (SPVs) and consortiums. In these entities each party shall hold a minimum 26% of ownership.
This MoU has come into effect from is valid for a minimum period of five years, which can be further extended on mutual understanding.
The MoU signing was attended by A.S. Bindra, Director (Finance), R.K. Bansal, Director (Electrical), Smt. Geeta Kapur, Director (Personnel) and S.P. Bansal, Director (Civil), along with other senior officers from SJVN. While V.K. Singh, Director (Technical) and Anil Kumar, Director (Personnel) along with other senior officers from NEEPCO were also present.
Nand Lal Sharma asserted that this is one of steps towards SJVN becoming a 5000 MW Company by 2023, 12000 MW Company by 2030 and 25000 MW Company by 2040.