State-owned hydel power producer SJVN today said it has firmed-up its plans to start a power trading subsidiary and hopes to earn up to Rs 80 crore per annum from it.
"We already have additional power and will also request Himachal Pradesh government for giving us their share of power (for trading). We want to enter into power trading," SJVN Chairman and Managing Director H K Sharma told reporters today.
He was speaking on sidelines of the World Innovation Summit and Expo organised by the India Tech Foundation here.
Himachal Pradesh, where Sutlej Jal Vidyut Nigam's (SJVN's) plants are located, currently has an arrangement with the Power Trading Corporation for trading in power, Sharma said.
"We hope to start operations this fiscal. The proposal for the same has been given to our Board and we expect a licence in the next five months," he said.
The hydel power company is also bullish on alternate sources of power and is mulling to set up a massive 50-MW solar power generation farm in Karnataka and a 50-MW wind-power project in Gujarat, he added.
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"We are looking for a joint venture partner from the private sector to set up the solar farm project in Karnataka. We have invited expressions of interest to set up solar projects in the state," Sharma said.
On the wind power side, SJVN has roped in a consultant who will identify sites for the wind mills to be installed, which will most probably be in Gujarat, Sharma said.
Asked about the status of picking a 30-per cent stake in a 638-MW hydel project in Georgia, Sharma said the company is awaiting the power ministry's approval.
The company, along with Britain's Continental Energy, is looking at buying a 30 per cent stake in the project on the abandoned Khudoni hydropower plant on the Inguri river.
The Georgian Government had sought investments to revive the project and SJVN had expressed its desire to buy a 30 per cent stake, early this year.