The Satluj Jal Vidyut Nigam (SJVN) Limited, a central public sector undertaking under the Union power ministry, recorded a revenue increase of 25.62 per cent amounting to Rs 3,299 crore in the financial year 2022-23. It was Rs 2,626 crore in the previous year.

While addressing reporters, the SJVN chairman and managing director, Nand Lal Sharma, said, “SJVN has envisaged a new mission of becoming a 12,000MW company by 2026.

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It will enable the company to increase the renewable portfolio by diversifying into solar, wind, hybrid, floating solar and ocean hybrid platforms across India. Most of the opportunities are in the form of competitive bidding processes for solar, wind and hybrid (solar and wind) to add projects at a rate of 1-1.5GW per year.

In addition, SJVN is also looking forward to direct allocation of projects from government agencies, he added.

Since its commissioning of its first 1500MW Nathpa Jhakri Hydroelectric Project on the Sutlej river in Himachal Pradesh in 2003-04, the company has grown in leaps and bounds.

At present, the total project portfolio of SJVN comprising 85 projects and three transmission lines is 58,144MW, out of which 2091.5 is under operation and the rest of the projects are under various stages of development. The current installed capacity of the company is 2091.50MW, which includes 1,912MW of hydro, 97.6MW of wind power and 81.9MW of solar power, Sharma informed.

“The company aims to increase its capacity to 12,000MW by 2026, 2,500MW by 2030 and 50,000MW by 2040,” he said.

Responding to the question of the media on the new energy policy of the Himachal Pradesh government, he said that the matter was pending in the Himachal Pradesh high court.

Further, highlighting the financial achievements of the financial year 2022-2023, he said the profit after tax (PAT) recorded in this financial year is Rs 1363.45 crore against Rs 977.52 crore in FY 21-22 which witnessed an increase of 39.48 per cent. The SJVN recorded profit before tax of Rs 1732.13 crore in comparison to Rs 1343.44 crore during FY 2021-22, an increase of 28.93 per cent, he added.

Additionally, the SJVN has declared a dividend of Rs1.77 per share for 2022-23, he said, adding that the Nathpa Jhakri hydropower station attained the utmost PAF of 106.653 per cent. The SJVN’s two flagship hydropower Stations in Himachal Pradesh made a new record by showing an all-time-high record of 50.534MU in single-day power generation on July 18, 2023, he said.

Sharma said, “The SJVN signed power purchase agreements for 200MW solar power project capacity with Maharashtra State Electricity Distribution Company Limited and with Solar Energy Corporation of India Limited for 100MW wind power capacity in this year. Power usage agreement for supply of 500MW solar power from ongoing 1,000MW Bikaner SPP has been signed with Punjab State Power Corporation Limited.”

Sharing concerns for the society, the SJVN has incurred a total amount of Rs 59.84 crore on CSR activities which is Rs 23.38 crore more than the statutory obligation of Rs 36.46 crore this financial year, he said.