New Delhi, June 27, 2019 : In CPSE Conclave 2018, Sh. Narendra Modi Hon’ble Prime Minister of India has outlined Vision of New India 2022. For achievement of this vision he emphasized on maximizing Geo- Strategic reach as an important parameter. In line with the same, SJVN Limited has entered into a MoU with NEEPCO. The MoU was signed by Sh. Nand Lal Sharma Chairman & Managing Director, SJVN Limited and Sh. A.G.West Kharkongor Chairman & Managing Director, NEEPCO at New Delhi.
The MoU provides a flexible framework under which both parties will collaborate and co-operate for development of Power Projects in India and abroad with an immediate focus of Northeast and Eastern States of India. The both 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 today and is valid for a minimum period of five years, which can be further extended on mutual consent. The MoU signing was attended by Shri A.S. Bindra, Director (Finance), Sh. R.K. Bansal, Director (Electrical), Smt. Geeta Kapur, Director (Personnel) and Sh. S.P. Bansal Director (Civil), along with other senior officers from SJVN. While Sh. V.K. Singh, Director (Technical) and Sh. Anil Kumar Director (Personnel) along with other senior officers from NEEPCO were also present.
Shri Nand Lal Sharma Chairman & Managing Director, SJVN asserted that this is one of steps for SJVN towards becoming 5000 MW Company by 2023, 12000 MW Company by 2030 and 25000 MW Company by 2040.