New Delhi: SJVN Limited, a prominent public sector enterprise in India’s energy sector, has been granted the prestigious Navratna status by the Department of Public Enterprises, Government of India. This significant recognition, which makes SJVN the 25th company to achieve this status, represents a major milestone in the company’s 36-year history.
SJVN's Chairman and Managing Director (CMD) Sushil Sharma expressed his deep gratitude to Prime Minister Narendra Modi for his visionary leadership in guiding the nation to this historic achievement. He also acknowledged the continuous support from Finance Minister Nirmala Sitharaman and Power Minister Manohar Lal, as well as the Government of Himachal Pradesh for its role as an equity partner.
In his statement, Sharma highlighted the importance of the Navratna status, noting that it is awarded to Central Public Sector Enterprises (CPSEs) that have consistently demonstrated exceptional financial performance and managerial efficiency. "This recognition not only honors our past achievements but also provides us with greater financial and operational freedom to pursue our business goals and contribute to the nation’s energy security. It positions us to undertake larger projects, form strategic partnerships, and play a significant role in the government’s vision of achieving 500 GW of renewable energy capacity by 2030," Sharma said.
With the Navratna status, SJVN now has the autonomy to invest in its projects without any financial ceiling, which is expected to accelerate its growth. The company can also invest up to 30 percent of its net worth annually, which will further support its ambitious expansion plans. Additionally, the enhanced autonomy allows SJVN to form joint ventures, establish overseas subsidiaries, and undertake organisational restructuring to optimize its operations.
SJVN, which was awarded Miniratna status in 2008, currently has a project portfolio of 56,802.4 MW. This includes 13 operational projects with a total installed capacity of 2,466.5 MW, and 75 projects in various stages of implementation across hydro, solar, wind, thermal, and transmission sectors. Established in 1988 as a joint venture between the Government of India and the Government of Himachal Pradesh, SJVN has evolved into a multi-faceted power entity with operations across India and Nepal.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)