Guwahati: SJVN Green Energy Limited (SGEL), a subsidiary of the state-owned SJVN, is undertaking a joint venture with Assam Power Distribution Company Limited (APDCL) to generate electricity from renewable sources in the Northeast Indian state.

SGEL Assam Renewable Energy, the joint venture company, shall generate power from renewable energy sources including hydropower and set up power plants, SJVN said in a regulatory filling, according to news agency PTI, which first reported the development. SJVN Green Energy will be the majority stakeholder in the enterprise, owning 51% of the stocks. According to reports, SGEL Assam Renewable Energy has authorised capital of Rs 1,000 crore.

NITI Aayog, Department of Investment and Public Asset Management, the Ministry of Finance, and the Ministry of Power have already given their nod to this venture.

On Saturday, Energetica India reported that SJVN Green Energy is inviting bids for the acquisition or lease of up to 800 acres of land in Assam to establish solar power projects with a capacity of 200 MW. Interested parties have until May 10 to submit their bids, with the bidding process set to open on the same day, noted the report.

Work is already underway on a 50 MW solar power plant that is being developed by the SJVN Green Energy Limited in Sonitpur, Assam, Business Northeast reported last month. The project will generate 101 million units of green energy in the first year and will be built at an estimated cost of Rs 291 crores. The energy generated will be supplied to APDCL at Rs. 3.92 per unit.

According to Geeta Kapur, chairperson and managing director of SJVN, SJVN Green Energy is developing three solar projects of capacity 200 MW, 70 MW, and 50 MW, thus amounting to a total power capacity in the state of 320 MW.

Last year, the state-owned power producer was allocated five hydroelectric projects in Arunachal Pradesh. The projects are on the tributaries of the Dibang and have a total generation capacity of 5,097 MW.

ALSO READ: Patanjali's business in Assam affected by legal troubles with Supreme Court?