Shimla, October 1
Hydro power giant Satluj Jal Vidyut Nigam is working towards the development of the nation. So far the organistion has done a commendable job and will be focusing more towards the nation building process, said by the MD Nand lal Sharma Chairman-cum-Managing Director of the Nigam, while interacting with the media he said that the organization will be taking the views and will consider the nod of its stake holders to construct any of the projects in the coming times. While addressing the gathering of the stake holders he said that they will also take the support and the views of the locals who played vital role in making project a success.
While addressing the media he said that opposition of any sort to the new project comes from those quarters which has no role to play. There is a tendency in the society with the certain people to oppose anything without knowing the facts. Oragnisations who are opposing the development activity are funded by the outsiders and people also started believing them. But the truth is always different. He said that people who are not even affected to this are the one who comes who oppose the most.
He further said that SJVN is taking all the precautions on the ground and in the projects, all the measures are taken care and in the coming times take the help of the latest technology which causes least disturbance.
“The SJVN is diversifying into solar, wind and thermal power to promote “clean and green” energy and the share of these alternative energy modes will be 30 per cent of the total portfolio of 5,000 MW by 2024 and 50 per cent of 12,000 MW capacity by 2030,” said Sharma. The Nigam’s shared vision was to emerge as a 25,000 MW company by 2040, he added.
SJVN MD Nand Lal Sharma firmly said that with the time the organization has , “The developed expertise and raised efficiency levels which has helped in yielding the best results. This helps the organization with no cost or time overrun in projects under construction and the problem of silting in the 1,500 MW Nathpa-Jhakri project has been solved to a large extend by an in-house technology and the repairs that earlier took much time is done at the minimum time line frame.
In coming times the SJVN would invest Rs 75,000 crore by 2030, including Rs 23,000 crore in Himachal. The SJVN had signed six MOUs with the Himachal Government during the Global Investors’ Meet in Dharmshala in November 2019.
Two of the projects has already commenced and working is going on for the third project which will be done soon. He said.
In the financial arae the standalone Profit Before Tax in the first quarter of FY 2021-22 rose to Rs 445.07 Crore registering an increase of 15.86% over the corresponding quarter of the previous year.
The standalone net profit increased by 12.77% to Rs 339.54 Crore from Rs 301.08 Crore over the corresponding quarter of the previous year.
He also detailed about the business expansions plans and said that SJVNs business footprint continues to expand and the company in FY 2020-21 and in the first half of 2021-22 has added new projects of more than 2500 MW generation capacity to its portfolio.
SJVN has been allotted 679 MW Lower Arun Hydro Electric Project in Bhojpur district of Nepal by the Investment Board of Nepal; the 104 MW Tandi Project, 130 MW Rashil Project and the 267 MW Sach Khas Hydro Electric Project on Chenab Basis, by the Government of Himachal Pradesh.
SJVN Limited, a Central Power Sector Undertaking under the Ministry of Power, Government of India, was incorporated on 24th May 1988 as a joint venture between Government of India and Government of Himachal Pradesh. SJVN was listed on the stock exchanges in the year 2010 and the Government of India holds 59.92% shares, Government of Himachal Pradesh 26.85% shares and the remaining 13.23 % shares are held by the public.
After its incorporation, SJVN commenced to construct the 1500 MW Nathpa Jhakri Hydro Electric Project on Satluj River in Himachal Pradesh. This Hydro Power Station with India’s largest underground Power House was commissioned in 2003-04. Since then, SJVN has commissioned five more Power Stations, which include the 412 MW Rampur Hydro Power Station in Himachal Pradesh, the 47.6 MW Khirvire Wind Power Station in Maharashtra, the 5.6 MW Charanka Solar Power Station in Gujarat, the 50 MW Sadla Wind Power Station in Gujarat and the 1.31MW Grid connected Solar Power Station in Himachal Pradesh.
SJVN started out with a single project operation in one state, but today is implementing Power Projects in seven States of India and has also made an international foray by implementing projects in the neighboring countries viz. Nepal and Bhutan. The current installed capacity of SJVN is 2016.51 MW (comprising of 1912 MW Hydro; 97.6 MW Wind Power & 6.91 MW Solar Power). The company also operates one Transmission Line of 86 km length while another one of 217 Km from Arun-3 HEP in Nepal to Bathnaha on the Nepal-India border is under construction.
SJVNs current project portfolio consists of around 30 projects totalling more than 10,000 MW capacity, out of which 2016.51 MW is in operation. Government of India has accorded Investment Approval for construction of 66 MW Dhaulasidh HEP and 210 Luhri Stage-I HEP, and for pre-construction activities of Jangi Thopan Powari HEP. SJVNs portfolio of Solar Power projects is fast expanding and has crossed 1350 MW, out of which 1345 MW capacity was recently secured, is under execution and is scheduled to be commissioned by FY 2023-24.
SJVNs business footprint continues to expand and the company in FY 2020-21 and in the first half of 2021-22 has added new projects of more than 2500 MW generation capacity to its portfolio. When the world was reeling under a pandemic induced global recession, SJVN was allotted the 679 MW Lower Arun hydroelectric project in Bhojpur district of Nepal by the Investment Board of Nepal, the 104 MW Tandi Project, 130 MW Rashil Project and the 267 MW Sach Khas hydroelectric project on Chenab Basis by the Himachal Pradesh government. In addition, through competitive bidding, SJVN also bagged the 70 MW Solar Power Project in Gujarat, the 75 MW Solar Power project in Uttar Pradesh, the 200 MW Solar Power project in Bihar, and on 24th September 21, SJVN bagged the 1000 MW of Grid connected Solar PV Power Projects through Request for Proposal (RFP) floated by Indian Renewable Energy Development Agency Limited (IREDA).