SJVNL to have 50,000 MW capacity by 2040, says CMD
SJVNL, a joint venture between the Indian government and the Himachal Pradesh government, has ambitious plans for its future growth in the energy sector. The company is targeting to achieve a remarkable milestone of becoming a 50,000 MW capacity company by the year 2040. Furthermore, SJVNL aims to add an impressive installed capacity of 10,000 MW over the course of the next three years.
Addressing a press conference, Nand Lal Sharma, the Chairman and Managing Director of SJVNL, highlighted the company’s significant progress over the past 35 years. During this time, SJVNL not only diversified into wind and solar energy but also successfully secured projects in various other states within India and even in foreign countries, including Nepal and Bhutan.
This expansion and diversification signify SJVNL’s commitment to renewable energy and its drive to contribute significantly to the growing demand for clean and sustainable power sources. The company’s ambitious goals align with India’s broader efforts to increase its renewable energy capacity and reduce reliance on fossil fuels, promoting a greener and more sustainable energy landscape for the future. SJVNL’s continued growth and success will play a pivotal role in achieving these objectives.
SJVNL has achieved remarkable financial growth and performance in recent years. In the fiscal year 2022-23, the company reported its highest-ever revenue, totaling Rs 3,299 crore. This figure represents a substantial increase of 25.6 percent compared to the previous fiscal year’s revenue of Rs 2,626 crore, highlighting the company’s continued expansion and success in the energy sector.
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Furthermore, SJVNL has declared a dividend of Rs 1.77 per share for the fiscal year 2022-23. The company’s commitment to distributing dividends is evident in the significant payouts it has made to both the central government (Rs 6,600 crore) and the Himachal Pradesh government (Rs 1,050 crore). This demonstrates the company’s contribution to the government’s revenue and its role in supporting the development and welfare of the region.
The per-share value of the company has also experienced substantial growth, rising from Rs 32.65 in September 2021 to Rs 73.15 in September 2023. This increase in per-share value reflects the overall financial health and positive trajectory of SJVNL, making it an attractive investment option and signaling its robust performance in the market.
SJVNL’s impressive financial results and contributions to both state and central governments underscore its significance in the renewable energy sector and its commitment to sustainable growth.
SJVNL has charted an ambitious road map for its growth over the next three years, with plans to allocate Rs 10,000 crore annually to expand its total installed capacity. The company aims to achieve a total installed capacity of 12,000 MW by the year 2026. This substantial investment underscores SJVN’s commitment to expanding its presence in the renewable energy sector and contributing to India’s clean energy goals.
SJVNL’s flagship hydro power stations in Himachal Pradesh, Nathpa-Jhakri with a 1,500 MW capacity and Rampur with a 412 MW capacity, achieved a remarkable feat by generating a record-breaking 50.534 million units (MU) of electricity in a single day on July 18. This achievement highlights the company’s efficiency and capabilities in hydroelectric power generation, a significant contributor to India’s renewable energy portfolio.
Regarding the water cess imposed by the state government on hydropower projects and the demand from the state government to increase its share of free power from these projects, Nand Lal Sharma mentioned that the matter is currently pending in court. Resolving this issue will be essential for ensuring the sustainability and profitability of hydropower projects and addressing any regulatory challenges associated with them. It’s a critical aspect of SJVN’s future operations and cooperation with state authorities.
