Srotaswini Mohapatra
Pune, 1 Sep 2024
SJVN (Satluj Jal Vidyut Nigam) Limited has been awarded the esteemed Navratna status by the Department of Public Enterprises, Government of India, becoming the 25th Navratna company in the country. This significant recognition highlights a major milestone in SJVN’s 36-year history.
The Navratna status, conferred upon select Central Public Sector Enterprises (CPSEs) demonstrating outstanding financial performance and managerial efficiency, grants SJVN enhanced operational and financial autonomy. This new status will allow SJVN to invest in projects without financial ceilings, fueling its ambitious growth trajectory. Additionally, the company can now invest up to 30% of its net worth annually, facilitating further expansion.
SJVN’s Chairman and Managing Director, Sushil Sharma, expressed deep appreciation for the guidance and support of Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman, and Power Minister Manohar Lal. Sharma also acknowledged the continuous assistance from the Government of Himachal Pradesh, which has been a crucial equity partner.
Sharma emphasized that the Navratna status not only celebrates SJVN’s past accomplishments but also positions the company to undertake larger projects, forge strategic partnerships, and significantly contribute to the government’s goal of achieving 500 GW of renewable energy capacity by 2030. This status will enhance SJVN’s ability to form joint ventures, set up overseas subsidiaries, and optimize organizational operations.
Established in 1988 as a joint venture between the Government of India and the Government of Himachal Pradesh, SJVN has grown into a diverse power entity with operations in India and Nepal. The company, initially recognized as Miniratna in 2008, now boasts a project portfolio of 56,802.4 MW. It has 13 projects with a combined installed capacity of 2,466.5 MW currently operational and 75 projects at various stages of implementation across hydro, solar, wind, thermal, and transmission sectors.
