SJVN Limited

04/20/2018 | Press release | Distributed by Public on 04/20/2018 05:41

SJVN signs MoU with Ministry of Power, Govt. of India

SHIMLA - April 20, 2018

SJVN Limited, the operator of one of the largest Hydro Power Plants in the country i.e. 1500 MW Nathpa Jhakri Hydro Power Station, signed a Memorandum of Understanding (MoU) with Ministry of Power, Govt. of India for the year 2018-19, on 20th April 2018 in New Delhi.

The MOU was signed between Shri Ajay Kumar Bhalla, Secretary (Power) and Shri Nand Lal Sharma, Chairman & Managing Director, SJVN. As per the targets set in the MOU, SJVN shall strive to achieve 9200 Million Units generation during the year under 'Excellent' category. Further, SJVN will have Capital Expenditure (CAPEX) target of Rs.900 Crores and Turnover target of Rs. 2175 Crores under Excellent category along with other targets related to operational efficiency and Project monitoring.

The MoU signing programme was attended by Ms. Archana Agrawal, Joint Secretary(Hydro) from the Ministry of Power, Sh R.K. Verma, Chairperson (CEA) and Shri Kanwar Singh, Director (Civil), Sh. Sanjay Uppal, CGM (BD&MS) and Sh. Ravi Uppal, CGM(Corporate Planning) from SJVN.

Against the target of 8950 Million Units (under 'Excellent' category), SJVN generated 9280 Million Units in FY 2017-18 from its projects under operation with an installed capacity of 1964 MW. SJVN has already paid an interim dividend of Rs. 785.95 crores to its shareholders in FY 2017-18.

Currently, SJVN has four projects with capacity of 1610 MW under construction and another four projects with capacity of 2155 MW under various stages of clearances, soon to enter construction. SJVN envisages being a 5700 MW+ generating company in coming years.