PremiumThis revision has resulted from addition of multiple projects in its portfolio and already established repute of successfully operating and implementing mega hydro projects in India and abroad, says Nand Lal Sharma, CMD, SJVN
| Listen to this article |
NEW DELHI : State-run power company SJVN has raised it's target for installed capacity till the year 2040 to 50,000 MW from its previous target 25,000 MW.
Nand Lal Sharma, Chairman & Managing Director, SJVN has announced the raising of the target to 25,000 MW by 2030 and 50,000 MW by 2040.
A company statement on Wednesday said: "This revision has resulted from addition of multiple projects in its portfolio and already established repute of successfully operating and implementing Mega Hydro Projects in India and abroad."
It said that SJVN has re-engineered its business model to be in sync with the government's commitment of 500 GW non-fossil fuel sources by 2030.
After hydro, company has successfully added varied business verticals and forayed into Thermal, Solar, Wind Power Generation, Power Transmission and Power Trading.
The previous 'shared vision' of the of 5,000 MW installed capacity by 2023, 12,000 MW by 2025 and 25,000 MW by 2040 was set in 2018.
During last three years, business development of the company has gained pace and made rapid strides, it said.
"Relentless efforts of SJVNites has led to Company Portfolio of more than 16,000 MW. Growing portfolio of SJVN has necessitated this upward revision of Shared Vision, " he said.
He noted that four years back SJVN had portfolio of 5,000 MW out of which 1,965 MW projects were under operation.
"Projects which were languishing on the drawing board for several years have been brought to the construction stage. Never before has SJVN been executing as many projects at a time as it is doing today, " the CMD said.
The construction activities are progressing at a fast pace in eight projects under development.
SJVN’s current solar and wind portfolio has expanded from 5.6 MW in 2017 to over 2750 MW.
The hydro portfolio of the company has increased substantially. Under international competitive bidding, SJVN has recently obtained prestigious 669 MW Lower Arun Project in Nepal. With 1,912 MW installed hydro capacity, projects of 10,556 MW capacity is under various stages of development in India, Nepal and Bhutan.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!