Indian state-owned hydropower producer SJVN announced it will create a new unit for the development of renewable energy, small hydro, and green hydrogen projects. 

The company’s board of directors approved the plan to set up the new division in a meeting held recently.

The new company will be based in India and will be aimed at deploying utility scale wind and solar projects, and hybrid projects including storage, as well as biomass, small hydro (being RE), and green hydrogen.

The plan will now have to be approved by relevant authorities such as the government think tank NITI Aayog and the Department of Investment and Public Asset Management under the Indian ministry of finance.