Satluj Jal Vidyut Nigam conferred with prestigious Navratna status

Shimla, August 31

Satluj Jal Vidyut Nigam Ltd (SJVN) has been conferred with the prestigious Navratna status by the Department of Public Enterprises, Government of India.

The prestigious recognition makes company the 25th Navratna of India, marking a momentous milestone in its 36-year journey.

Sushil Sharma, Chairman and Managing Director, SJVN, said, “The Navratna status is conferred upon select Central Public Sector Enterprises (CPSEs) that have consistently demonstrated exceptional financial performance and managerial efficiency. This will allow us greater financial and operational freedom to further our business interests and contribute to the nation’s energy security.”

This status not only recognises the SJVN’s past achievements but also sets the stage for us to undertake larger projects, form strategic partnerships and contribute more significantly to the government’s vision of achieving 500 GW of renewable energy capacity by 2030, said Sharma.

“The company can now make investment on its projects without any financial ceiling, thereby accelerating the growth path of the company. Additionally, the company can invest up to 30% of its net worth annually, further fueling its ambitious expansion plans. This enhanced autonomy also allows the SJVN to form joint ventures, set up overseas subsidiaries and undertake organisational restructuring to optimise its operations,” said Sharma,

The SJVN was accorded the coveted Miniratna status in 2008. Currently, SJVN boasts a project portfolio of 56,802.4 MW, with 13 projects totalling 2466.5 MW of installed capacity under operation and 75 projects under various stages of implementation across hydro, solar, wind, thermal, and transmission lines.

The company, established in 1988 as a joint venture between the Government of India and the Government of Himachal Pradesh, has grown into a multi-faceted power entity with operations across India and Nepal.

Sharma thanked Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman and Power Minister Manohar Lal for their guidance and unwavering support to the company. He also extended special thanks to the Government of Himachal Pradesh for assisting the company as an equity partner.

Official gets leadership award

SJVN’s Director (Finance and Personnel) Akhileshwar Singh has been conferred with prestigious CFO Leadership Award 2024 by Top Rankers Management Club during its 24th National Management Summit in New Delhi. The award was given to Singh for his outstanding contribution to promoting the business of SJVN. As per a spokesperson, the renewable energy business of the company has grown manifold under Singh’s leadership.