SJVN sets target of 5,000 MW by 2023; signs MoU to extend support

The state-owned electricity generation company, SJVN Ltd, entered into a significant MoU, wherein the company has a Capex target of Rs 2,800 crore for the current fiscal year.

The data released by the Ministry of Power stated that as per the targets set in MoU, SJVN Ltd would require to achieve 9,680 million units (MUs) of electricity generation. The capital expenditure (Capex) target is set at Rs 2,880 crore during the current year while the turnover target is set at Rs 2,800 crore.

The company has an installed capacity of 2,016 MW, which it reported as of the end of FY20. Recently, SJVN has also bagged two major solar projects of 100 MW capacity at Dholera Solar Power Project and 100 MW Raghanesda Solar Power Project at tariffs of Rs 2.80 per unit along with Rs 2.73 per unit, respectively from Gujarat Urja Vikas Nigam Limited (GUVNL).

Commenting on the current status of its operational work in hand, the management added that the company is implementing thirteen hydro projects in Himachal Pradesh, Uttarakhand, Nepal & Bhutan. Further, the company is also implementing the 1,320 MW Buxar Thermal Power Project in Bihar. It further said that SJVN is pursuing power projects in India and in neighbouring countries. For this, the company is also in talks with the Government of Nepal and the Government of Arunachal Pradesh to tap hydro potential in their territories.

Due to the large Capex plans and positive demand forecast, the company is confident of achieving the installed capacity of 5,000 MW by 2023, 12,000 MW by 2030, and 25,000 MW by the year 2040.