SJVN’s Sikkim Power Trading: SJVN signs pact with sikkim urja ltd.
SJVN is focusing on managing changes in electricity demand and supply across different regions and times. It aims in ensuring sufficient power availability for everyone’s needs. Recently, the electricity commission granted SJVN a trading license for category 1 power trading, allowing them to engage in interstate electricity trading.
With the remarkable move, SJVN’s Chairman and Managing Director, Nand Lal Sharma, announced on August 3 that the company has established a memorandum of understanding (MoU) with Sikkim Urja Ltd. This MoU outlines the collaboration to trade 180 MW units from the Teesta-III Hydro Electric Project, which has a total capacity of 1,200 MW. The aim is to distribute this power to licensees and open access consumers in the region.
This collaboration marks SJVN’s first venture in Sikkim and is expected to enhance the growth of its expanding trading business. The partnership also aligns with the government’s goal of ensuring 24×7 power availability for all citizens. The MoU signing took place in New Delhi, with Akhileshwar Singh representing SJVN and S Sunil representing Sikkim Urja Ltd.
The company has taken on the responsibility of procuring renewable energy through a competitive bidding process. It allows them to maintain a steady power supply. The company is actively working on multiple projects with a combined capacity of 55,814 MW. The, SJVN has set ambitious targets, aiming to achieve 5,000 MW of capacity by the year 2023-24. It also aims to achieve 25,000 MW by 2030 and 50,000 MW by 2040.moreover, the company has committed to source 50% of its energy from non-fossil fuel sources by 2030. This commitment reflects their dedication to sustainable energy practices and environmental responsibility.
The SJVN’s ongoing efforts to balance electricity demand and supply across various regions are exemplified by their collaboration with Sikkim Urja Ltd. The agreement to trade power from the Teesta-III Hydro Electric Project marks a significant step. It benefits boththe company trading business expansion and the government’s continuous power supply initiative. With the strong determination, SJVN aims to contribute substantially to India’s power generation landscape. It promotes renewable energy sources and ensure sustained availability and reliability of power for the nation.
