SJVN has entered into an MoU with Indian Oil Corporation Limited (IOCL) for formation of Joint Venture (JV). The JV company will engage in development of Renewable Energy Projects, which includes Solar, Wind, Hydro & Hybrid Power Projects. The company will also develop Energy Storage Systems such as Battery Storage and Pumped Storage Projects for supply of Round the clock (RTC) Power. The power generated from these projects will be supplied to Refineries of IOCL, other establishments of IOCL and will also be sold to third parties through energy exchanges.