Page 2 - Sjvn Ltd

SJVN signs agreement to provide technical consultancy services to NHAI

State-owned power producer SJVN on Monday said it has signed an agreement with NHAI to provide technical consultancy services for highway projects. The agreement was signed in the presence of NHAI Chairman Santosh Kumar Yadav and SJVN Director (Projects) Sushil Sharma in the national capital, SJVN said in a statement. "SJVN CMD Nand Lal Sharma has informed that SJVN has inked a Memorandum of Understanding (MoU) with the National Highways Authority of India (NHAI). The primary focus of this MoU is to utilise the expertise of SJVN in Technical Consultancy Services," it said. SJVN will review slope protection works at various locations, particularly on the hillside from the Parwanoo-Solan-Shimla section of NH-05, Kullu Manali Highway, and various NHAI projects located in Himachal Pradesh, the company said. Furthermore, SJVN will provide design review services, peer review services, and technical vetting of designs of NHAI and will also monitor the construction works and recommend ...

CBI lodges FIR against Siemens Gamesa, 3 retired officials of SJVN

The CBI has booked Chennai-based Siemens Gamesa Renewable Power and three retired officials of SJVN, among others, for allegedly causing a Rs 191-crore loss to the PSU because of irregularities in the installation of its wind power plant in Ahmednagar, officials said on Wednesday. The agency has booked three retired senior officers -- RK Agarwal (executive director), Sanjay Uppal (chief general manager) and AK Jindal (deputy general manager) -- of SJVN Limited (earlier known as Satluj Jal Vidyut Nigam), besides Power Energy Consultants representatives Vineet Sharma and CM Jain and Chennai-based Gamesa Wind Turbines Private Limited (now known as Siemens Gamesa Renewable Power Private Limited), they said. Queries seeking a reaction from Siemens Gamesa Renewable Power remained unanswered. After registering the FIR, the Central Bureau of Investigation (CBI) conducted searches at seven places in Delhi, Ghaziabad, Gurugram, Samana in Punjab's Patiala district and Chennai, on the premises

SJVN Green Energy to supply 200 MW solar power to Uttarakhand Power Corp

SJVN Green Energy Ltd has signed a pact with Uttarakhand Power Corporation Ltd (UPCL) to supply 200 MW solar power from a 1,000 MW Bikaner project in Rajasthan. State-owned SJVN, through its wholly-owned subsidiary SJVN Green Energy Ltd (SGEL) has signed a Power Usage Agreement (PUA) with UPCL. The solar project is being developed by SJVN through SGEL in Rajasthan under CPSU (Central Public Sector Undertaking) scheme of IREDA (Indian Renewable Energy Development Agency), a statement said on Friday. The development cost of the project, which is under construction, is Rs 5,491 crore. It is being developed under the domestic content requirement mode and is scheduled to be commissioned by April 2024. The power generated from the project will be used by government entities, either directly or through discoms. President Droupadi Murmu laid the foundation stone for the Bikaner solar power project in January 2023. The project is expected to generate 2,455 million units in the first year

SJVN gets govt approval to form JVs for 8778 MW hydro, renewable projects

State-owned power producer SJVN Ltd on Monday said it has received the finance ministry's permission to form four joint venture firms for the development of hydro and renewable projects with a total capacity of 8,778 MW in India and Nepal. SJVN will be the leading partner in three joint venture companies, whereas SJVN's wholly-owned subsidiary SJVN Green Energy Ltd (SGEL) will be the leading partner in the fourth JV, a company statement said. According to the statement, the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India has agreed to the proposal of SJVN and Ministry of Power to form four joint venture (JV) companies for the development of Hydro and Renewable Projects in India and Nepal. SJVN will form a JV with Maharashtra State Power Generation Company Ltd to develop 5,000 MW Renewable Energy Projects. Another JV will be formed between SJVN, Government of Arunachal Pradesh and Navyuga Engineering Company Ltd. The JV will ..

SJVN secures Rs 10,000 cr construction finance facility from banks

State-owned SJVN Ltd has secured Rs 10,000 crore construction finance facility to fund its upcoming renewable energy projects from a group of leading domestic and international lenders. The construction finance facility is a unique and first-of-its-kind transaction undertaken by a PSU entity and Public Sector Banks, a company statement said on Friday. According to the statement, SJVN has secured Rs 10,000 crore (USD 1.2 billion) construction finance facility to fund its upcoming renewable power projects from a group of leading domestic and international lenders. SJVN Green Energy Limited (SGEL), a wholly-owned subsidiary of SJVN Ltd, undertook this initiative in association with SBI Capital Markets Ltd (SBI CAPS). SBI CAPS acted as the sole advisor and arranger for the transaction on behalf of SGEL. Construction finance attracted a tremendous response from lenders and was over-subscribed. After detailed discussions and deliberations, proposals from five banks -- Deutsche Bank, Sta

State-owned SJVN to develop 100 MW solar project worth Rs 550 crore

State-owned SJVN has bagged a 100 MW solar project worth Rs 550 crore under e-Reverse auction conducted by Gujarat Urja Vikas Nigam. This ground mounted solar project shall be developed by the SJVN through its wholly-owned subsidiary, SJVN Green Energy Ltd (SGEL), at a tentative cost of Rs 550 crore, a company statement said. According to the statement, SJVN successfully bagged the quoted capacity of 100 MW Solar Project at the rate of Rs 2.63/Unit on Build Own and Operate basis through a tariff-based competitive bidding process of GUVNL. The project is expected to be commissioned within 18 Months from the date of signing of the Power Purchase Agreement (PPA). The PPA shall be signed between SGEL & GUVNL for 25 years. The project is expected to generate about 252 million units in its first year of commissioning and the cumulative energy generation over a period of 25 years would be about 5,866 million units, it stated. Further, the commissioning of this solar project is ...

SJVN concludes first ever e-reverse auction for 1500 MW power projects

State-owned SJVN Ltd on Thursday announced concluding an e-reverse auction process for selecting renewable energy developers for its 1,500-MW power projects. This is the first ever such auction process conducted by SJVN, the company said in a statement. "SJVN successfully concludes the E-Reverse Auction for 1500 MW power projects with energy storage system. As a Renewable Energy Implementing Agency (REIA), SJVN has successfully concluded its first ever e-reverse auction (e-RA) for selection of RE power developers for supply of 1,500 MW power projects with energy storage system in India," SJVN CMD Nand Lal Sharma said in the statement. The auction to supply 1,500 MW power from interstate transmission system connected renewable projects with energy storage across India attracted nine companies. Seven of them got their quoted capacity at a tariff of around Rs 4.38 per unit. The successful bidders include ACME, JUNIPER & Tata Power, it said. Ministry of New and Renewable Energy has ...

SJVN net profit dips marginally to Rs 439 crore in September quater

State-owned SJVN Ltd on Thursday reported a marginal decline in its consolidated net profit to Rs 439.64 crore. Its consolidated net profit was Rs 445.44 crore in the quarter ended on September 30, 2022, according to a regulatory filing. Total expenses in the quarter rose to Rs 398.22 crore from Rs 387.75 crore in the year-ago period. Total income also increased to Rs 951.62 crore in the September quarter over Rs 916.25 crore a year ago.

SJVN Green collaborates with Ocean Sun for new tech in green, clean energy

State-owned SJVN Ltd on Friday said its green energy arm has inked an initial pact with Norwegian firm Ocean Sun for a membrane-based floating solar pilot project in India. "Under the aegis of India-Norway Task Force for Energy, SJVN Green Energy Ltd (SGEL), a wholly-owned subsidiary of SJVN Limited today inked an MoU with Ocean Sun, Norway for collaboration in the field of new technologies in green and clean energy sector," a BSE filing said. As per the MoU, SGEL shall develop and finance a pilot membrane-based floating solar project (about 2 MW) at a suitable location in India. For this project, patented technological support shall be provided by Ocean Sun. This MoU shall pave way for technology transfer and cooperation amongst the two countries, it added. Once this pilot project succeeds, the two companies can look forward for expanding this technology on a large scale along the vast coast line in the southern part of India. SJVN has aligned its shared vision with that of the

Rajasthan, J&K to purchase 1,000 MW power from SJVN's solar facility

Discoms Jammu & Kashmir Power Corporation Ltd (JKPCL) and Rajasthan Urja Vidyut Nigam Limited (RUVNL) have agreed to purchase power from energy producer SJVN Ltd. "JKPCL and RUVNL have given their consent for purchase of 600 MW and 500 MW power, respectively, against a capacity of 1,000 MW at a tariff of Rs 2.57/kWh," SJVN said in a regulatory filing on Thursday. SJVN Ltd has also offered power to the beneficiaries of the northern region from 1,000 MW solar PV station to be developed under CPSU scheme of the central government in Poogal tehsil of Bikaner district in Rajasthan, it said. The power generated by the project will be used by government entities, either directly or through discoms (distribution companies). Under the administrative control of the Union Ministry of Power, SJVN Ltd is a joint venture of the central government and the government of Himachal Pradesh.

SJVN ropes in carbon credits developer EKI Energy for issuance of I-REC

State-owned power producer SJVN Ltd has roped in carbon credits developer EKI Energy Services for registration, issuance and trading of international renewable energy certificates for its 1,500 MW Nathpa Jhakri hydro power project in Himachal Pradesh. An international renewable energy certificate (I-REC) means one MWh (1,000 units) of electricity was produced from renewable energy sources, SJVN said in a regulatory filing. "SJVN has issued a letter of award to EKI Energy Services for registration, issuance and purchase/trading of I-RECs for 1,500 MW NJHPS (Nathpa Jhakri Hydroelectric Power Station)," the filing said. I-RECs can originate from wind, solar, ocean energy, biomass, hydropower, landfill gas, aerothermal, geothermal, and landfill gas projects. This will have significant impact on the environment as it will lead to reduction in carbon emissions. SJVN's NJHPS has been registered in IREC registry mechanism for January 1, 2023 to December 31, 2027, the filing said. SJVN exp

Stocks to Watch on Sept 21: Infosys, Sheela Foam, SJVN, Cipla, DCB Bank

Stocks to Watch today, September 21, 2023: The government will sell up to 4.9 per cent stake in SJVN via offer for sale (OFS) on Thursday and Friday

Govt to sell up to 4.92% stake in utility company SJVN from Thursday

The sale of the federal government's 4.92% in the state-run hydro power generation firm could earn it about 13.34 billion rupees ($160.81 million)

PFC signs MoU worth Rs 1.18 trn with SJVN for renewable energy projects

The financial backing from PFC is expected to range between Rs 80,000 crore and Rs 90,000 crore, displaying a significant commitment to these crucial projects

SJVN Green Energy inks two pacts to supply 1,200 MW solar power to Punjab

State-owned SJVN Ltd on Monday said its arm SJVN Green Energy Ltd (SGEL) has inked two pacts with Punjab State Power Corporation to supply 1,200 MW of solar power from its projects. "SJVN signed two Power Purchase Agreements (PPA) for 1,200 MW solar power in the august presence of Punjab, Bhagwant Mann and Nand Lal Sharma, Chairman & Managing Director, SJVN at Sangrur, Punjab, today (Monday)," a company statement said. According to the statement SJVN through its wholly-owned subsidiary SGEL has signed two PPAs (power purchase agreements) with Punjab State Power Corporation Ltd (PSPCL) for 200 MW Solar Project(s) to be developed anywhere in Punjab and another for 1,000 MW Solar Project(s) to be developed anywhere in the country. "These projects shall be developed within 18 months on Build Own and Operate basis and will involve an investment of around Rs 7,000 crores," it stated. The letter of intent for these 1,200 MW projects was received from PSPCL on July 21, 2023. The projects

SJVN signs pacts with ONGC, Sambhar Salts to set up solar projects, parks

State-owned SJVN Ltd has signed initial pacts with Oil & Natural Gas Corporation (ONGC) and Sambhar Salts Limited (SSL), a subsidiary of Hindustan Salts Limited for development of solar parks and projects. SJVN Ltd signed two Memorandums of Understanding (MoUs) with ONGC and SSL, company's CMD Nand Lal Sharma said in a statement. "The MoU with ONGC will pave a way for joint development of renewable energy projects including offshore & onshore solar, wind, hybrid, round the clock (RTC) projects, venturing into new technologies such as green hydrogen, green ammonia etc," he said. The projects will be executed through formation of a joint venture company between ONGC and SJVN Green Energy Ltd (SGEL), a wholly-owned subsidiary of SJVN, Sharma said. Under the MoU with Sambhar Salts, solar projects/parks will be developed by SGEL in a phased manner on the identified land bank of SSL, the CMD said. Sharma further added that "both the parties shall explore avenues for equity ...

SJVN inks initial pact with REC to secure Rs 50,000 crore for projects

State-owned SJVN Ltd has inked an initial pact with REC Ltd for securing finance of Rs 50,000 crore for projects of its subsidiaries and joint ventures. REC will provide financial assistance to set up new power generating stations based on conventional and renewable sources of energy, according to a statement on Friday. Besides, REC will assist financially in setting up new technology projects like battery storage, E-vehicles, green hydrogen/ammonia, hydrogen cells storage and manufacturing units for green projects. "SJVN has inked an MoU with REC. REC has agreed to finance the projects of SJVN and its subsidiaries and joint ventures to the extent of Rs 50,000 crore," the statement said. The MoU covers construction of evacuation and transmission projects, and includes strengthening/improvement of existing transmission system. SJVN said the pact with REC will act as a booster for its growth and aims to have 25 GW generation capacity by end of the current decade. With a total proj

SJVN Green Energy bagged 200 MW wind energy project worth Rs 1,400 cr

State-owned SJVN Ltd arm SJVN Green Energy on Monday bagged a 200 MW wind power project entailing an investment of Rs 1,400 crore in a tariff-based competitive bidding conducted by Solar Energy Corporation of India. This wind power project will be developed by SJVN Green Energy anywhere in India through EPC (engineering procurement construction) contract, a BSE filing stated. The tentative cost of construction/development of this project is Rs 1,400 crore, it said. SJVN Green Energy, a wholly-owned subsidiary of SJVN Ltd, participated in the tariff-based competitive bidding process for the selection of wind power developers for setting up of 1,200 MW ISTS (inter-state transmission system) connected wind power projects in India (Phase-XIV) conducted by Solar Energy Corporation of India (SECI). SJVN Green Energy bagged the full quoted capacity of a 200 MW wind power project at the rate of Rs 3.24/Unit on a build own and operate (BOO) basis through e-RA (reverse auction) conducted on

India to triple renewable projects auctions as 2030 green target looms

The nation is accelerating project installations to hit a goal to have 500 gigawatts of clean energy generation capacity in 2030

SJVN Q2 net profit rises 10% to Rs 445 cr, income dips to Rs 916 cr

State-owned SJVN on Friday posted a 10 per cent year-on-year rise in its consolidated net profit to Rs 445.44 crore in the September 2022 quarter. Its consolidated net profit was Rs 404.72 crore in the year-ago quarter, a BSE filing showed. Its total income dipped to Rs 916.25 crore in the quarter from Rs 925.56 crore a year ago.