New Delhi: State-run SJVN Limited is considering monetisation of its renewable energy (RE) projects in order to raise funds, said its Chairman and Managing Director (CMD) Nand Lal Sharma. During a recent investors' call conference, Sharma said, "We are keeping our fingers crossed. We will see the opportunity. We require the funds and we are not able to mobilize funds from other sources. We can go for monetisation of the assets and get funds for funding the new projects."
Commenting on the RE asset monetisation plan, Sharma said that going forward, SJVN will be taking up new RE projects through its newly-instituted green subsidiary, SJVN Green Energy. SJVN's current operational RE portfolio stands at 103 MW, which will stay with SJVN, said the CMD. The company plans to take up 1,000 MW RE projects by March 2024 which will be taken up via SJVN Green Energy, said the CMD. "Recently, we have formed a separate 100 percent subsidiary of SJVN, SJVN Green Energy. The new projects we would be taking through (this) new subsidiary. This 1,000 megawatt projects will also be taken up through that new renewable subsidiary. Operational projects of 103 megawatt capacity will be with SJVN and the subsequent projects will be with SJVNGE (sic)," Sharma told investors.
On being asked about SJVN's capacity addition plans, the CMD said, "…. this year we expect 175 megawatt, another 70 megawatt, two projects. 145-megawatt solar capacity we are expecting to add and hydro is also ready for 60-megawatt addition, so total 205-megawatt capacity we will be adding this year. In the next year 2023-2024, this 1,320 megawatt Buxar, 900 megawatt Arun-3 and 1000 megawatt also we will try to bring it before March 2024, s, about 33,500-megawatt capacity at least will be added in the financial year 2023-2024, (sic)."
Sharma said that SJVN is targeting a capex of Rs 8,000 crores for 2022-2023 and and Rs 10,000 crore for 2023–2024.
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