Its All About Power Sector

In the recent developments of Renewable Energy Sector, setting up Utra Mega Solar Plants is considering the most recent and in respect of this a Joint Venture(JV) company of various PSUs will be formed for setting up 4000 MW Solar PV project on 18000 ha. Land at Sambhar. Out of total 4000 MW Solar Energy Potential, the 1000 MW (Phase-I) Solar Power Project will be developed entirely by JV company on its own as a generator to generate 1760 MU annually. A small snapshot of the same is provided below for your reference.
The finalisation of the MOU is to be signed for the formation of JV company. As per draft finalized MOU, following equity has been agreed for various PSUs :

Time Line: Phase-I 1000 MW
Approval & Clearances: 6 months
Tendering : 6 months
Project Execution : 2 years

It was observed to ascertain as to whether the proposed JV company will be a generating company or merely a developer for Investment of funds. To the above observation, it is clarified that the proposed JV company will be as a generating company.

Opinion of Finance/Legal
Proposal has been examined by finance and concurred.

Specific Approval
It is requested to approve the following:
(i) Approval of participation of SJVN Ltd. in JV company being formed along with other partners for setting up 4000 MW Ultra Mega Green Solar PV Project with 16% equity.
(ii) To authorize Chairman and Managing Director, SJVN Ltd. to take such steps as may be necessary for obtaining approvals, statutory, contractual or otherwise, in relation to the above and settle all matters arising out of and incidental thereto and sign and execute Memorandum of Understanding (MoU), JV Agreement, all deeds, applications, documents and writings that may be required on behalf of the company and generally to do all the acts, deed
s and things including sub-delegation of these powers, that may be necessary, for proper, expedient or incidental for the purpose of giving effect to the aforesaid Proposal.

Source: Cerebral Business Research Pvt. Ltd.