SJVNL aims to become 50,000 MW capacity company by 2040, says CMD

The company earned highest-ever revenue of Rs 3,299 crore in 2022-23, which is 25.6% more than the revenue of Rs 2,626 crore in 2021-22

SJVNL, a joint venture of the Centre and Himachal Pradesh government, aims to become a 50,000 MW capacity company by 2040 and add installed capacity of 10,000 MW during next three years, a senior company official said here on Saturday.

Addressing a press conference, SJVNL Chairman and Managing Director Nand Lal Sharma said the company has made rapid strides in the past 35 years and not only made foray into wind and solar energy, but also got projects in other states and foreign countries, including Nepal and Bhutan.

The company earned highest-ever revenue of Rs 3,299 crore in 2022-23, which is 25.6 per cent more than the revenue of Rs 2,626 crore in 2021-22, Sharma said.

Further, he said the company declared a dividend of Rs 1.77 per share for 2022-23 and paid a dividend of Rs 6,600 crore to the central government and Rs 1,050 crore to the Himachal Pradesh government and per share value of the company has increased from Rs 32.65 in September 2021 to Rs 73.15 in September 2023.

The company has drawn a road map for the next three years and would spend Rs 10,000 crore every year to increase the total installed capacity to 12,000 MW in 2026.

SJVN's two flagship Hydro Power Stations in Himachal Pradesh namely Nathpa-Jhakri (1,500 MW capacity) and Rampur (412 MW capacity) made a record by generating 50.534 million units (MU) in a single day on July 18, Sharma said.

Referring to water cess imposed by the state government on hydropower projects and demand of the state government to increase free power share in projects, Sharma said the matter is pending in the court.