State-run hydro-power generator SJVN Limited has received the letter of Intent (LoI) for 288 MW wind power assets spread across Madhya Pradesh, Karnataka, and Andhra Pradesh owned by Power Trading Corporation India (PTC Limited), which is India’s largest electricity trader.
More on the SJVN – PTC India Deal and SJVN’s Growth Plans
SJVN won these 288 MW assets in the auction at an enterprise value of around ₹2,000 crores. NTPC had also participated in the auction.
This deal is in line with PTC’s strategy of exiting its wind power business. On the other hand, this deal will help increase SJVN Ltd.’s green energy portfolio other than hydropower.
At present SJVN Ltd. has 2,016.51 MW capacity in operation, 3,090 MW under construction, 686 MW is under pre-construction and 2,993 MW is under Survey and Investigation stage. SJVN Ltd. aims to be a 5,000 MW company by 2023, 12,000 MW company by 2030, and 25,000 MW company by 2040.
SJVL through its aggressive growth plans is greatly contributing towards the target set by Indian Government to achieve 450GW renewable energy capacity by 2030.
About SJVN Limited:
SJVN Limited is a Mini Ratna Company under the administrative control of Ministry of Power, Govt. of India. It is a joint venture of the Government of India (GoI) and the Government of Himachal Pradesh (GoHP). SJVN is a listed company now.
About PTC India Ltd.: PTC India Ltd. is an Indian listed semi-government company. PTC is a pioneer in India for trading in power. SJVN undertakes both short-term and long-term trading of power generated from large power projects. Some of its shareholders are NTPC, PGCIL, Damodar Valley Corporation, LIC of India, Power Finance Corporation and NHPC.