State-owned power producer SJVN on Friday said its wholly-owned arm SJVN Green Energy has incorporated a joint venture company with Assam Power Distribution Company to generate electricity from renewable sources.
The joint venture company -- SGEL Assam Renewable Energy, shall carry out business in the field of power generation from all renewable energy sources including hydro power by setting up power plants, SJVN said in a regulatory filling said.
SJVN Green Energy will hold 51% in SGEL Assam Renewable Energy.
SGEL Assam Renewable Energy has authorised capital of Rs 1,000 crore, it said.
The approvals to create this joint venture were taken from authorities like NITI Aayog, Department of Investment and Public Asset Management, Ministry of Finance, Ministry of Power, Government of India etc, according to the filing.
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