SJVN Looking Forward To Acquire Hydro And Solar PV Projects

• The joint venture has recently issues a tender inviting bids from eligible firms and SPDs for setting up of 100MW solar PV plant in Gujarat
• SJVN is looking at long-term inorganic growth by way of acquisitions
• It has put in a provision wherein developers and interested parties can keep submitting EOIs till 2021

According to a report, The Satluj Jal Vidyut Nigam (SJVN), which is joint venture of Government Of India and Government Of Himachal Pradesh, is looking forward to acquire Solar PV and hydropower projects. In addition to this, SJVN becomes second government agency after NTPC to go for acquisition.

It has been said that SJVN has issued an expression of interest which allows any independent power products, power generation companies, power plant developers, State Electricity Boards, lenders owning hydro/solar power project In Indian states to be eligible for offering Hydro/Solar Power for possible acquisition by SJVN.

Integrity Pact 

It has also even specified that applicants shall provide access and supply all the information and documents to SJVN that are deemed necessary for preliminary as well as detailed due diligence to be carried out by SJVN for possible acquisition.

In order to provide transparency and fairness in the process, the SJVN is implementing Integrity Pact. The Integrity Pact, signed by all the prospective parties and the SJV would be committing the officials of both parties, not to exercise any corrupt/fraudulent/collusive/coercive practices in the process and also during implementation of this EOI. Only those parties who have entered into the ‘Integrity Pact’ with the SJVN shall be eligible to participate in the EOI process.

SJVN has also issues a tender, inviting bids from eligible firms and Solar Power Developers for setting up of 100 MW grid-connected solar PV Power plants at the Dholera Solar Park in Gujarat.