SJVN inaugurates ‘Pravesh’ a function organised to celebrate Bhartiya Nav Varsh

New Delhi: SJVN Limited's Chairman & Managing Director (CMD) Nand Lal Sharma on Wednesday inaugurated “Pravesh” a function organised to celebrate Bhartiya Nav Varsh Vikram Samvat 2080 at Corporate Headquarters, Shimla.

Sharma in his keynote address ‘SJVN-A Way Forward’ shared the company achievements and inspired all to achieve the shared vision which is in sync with the Government’s commitment for Power to All 24X7. Sharma termed the previous Vikram Samvat as a triumphing year as the company achieved many milestones. In a historic moment, President of India Droupadi Murmu laid the foundation stone of 1000 MW Bikaner Solar Power Project at Rajasthan. In addition to this, 382 MW Sunni Dam Hydro Electric Project has entered into construction stage. With award of major works for the project, first time ever in the history of SJVN, hydro & solar projects of 1697 MW capacity have been awarded in a year. Sharma applauded the concerted efforts of team SJVN that has enabled the company’s extraordinary growth.

Sharma further apprised that maintaining the highest standards set earlier in power generation, SJVN has achieved design energy of 8764 MU for its seven power stations 58 days earlier than the target date. SJVN has also displayed strong financial growth and has recorded profit after tax of Rs 1349.48 crores for nine months of the year which is 37.98 percent more than the corresponding period of previous year. While, Net Worth of the company has also jumped to Rs 14,261 crores as compared to Rs 13,581 crores during last year.

Sharma shared that with multiple new projects in hand, SJVN has incurred CAPEX expenditure of Rs 7,295 crores till date for the year. With 91 percent capital expenditure already spent, the company is committed to achieve the CAPEX target of Rs 8,000 crores. This is contributing in the growth story of SJVN and is also boosting the economy of the nation.

On this occasion, SJVN's Director (Personnel) Geeta Kapur, SJVN's Director (Finance) AK Singh, SJVN Limited's Director (Electrical) Sushil Sharma and senior officials were also present. The event was celebrated with great vigor and enthusiasm across all the projects & offices of the company.

SJVN, a leading power sector CPSE has a total project portfolio of 46,879 MW. The company is on rapid progression to achieve its shared vision of being 5000 MW by 2023-24, 25,000 MW by 2030 and 50,000 MW Company by 2040. This shared vision has been formulated in sync with the commitment of the Government of India of generating 50 percent energy from non-fossil fuel-based energy resources by 2030.

Disclaimer: This story is a press release and is being published without any editing by the PSU Watch desk.

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