- For FY23, SJVN is targeting Rs 8,000 crore capex utilisation and with several projects under development, the company is prepared to meet this target as well, said the SJVN CMD
- SJVN’s capital expenditure for FY22 was spread over 10 projects of over 3,500 MW capacity that are in the construction stage
Shimla: State-run SJVN Limited has crossed the capital expenditure (capex) utilisation target of Rs 5,000 crore for FY22 one month ahead of the financial year-end, said the Miniratna PSU in a statement on Tuesday. SJVN’s Chairman & Managing Director (CMD) Nand Lal Sharma said that by incurring capex of Rs 5,007.89 crore by February 28, SJVN has achieved 100.16 percent of the targeted capex of Rs 5,000 crore for the current fiscal year.
Sharma said, “By registering over 100 percent capex utilisation in 11 months of the current financial year, SJVN has maintained its stature of being an excellent performing power sector CPSU. At the existing pace of work, the capex is likely to reach Rs 5,500 crore during the ongoing fiscal year, thus surpassing the target by 10 percent. For FY23, SJVN is targeting Rs 8,000 crore capex utilisation and with several projects under development, the company is prepared to meet this target as well.”
Sharma said that under the leadership of Prime Minister Narendra Modi and with guidance and support of Union Power Minister RK Singh, SJVN has achieved this target assigned by the government and the Ministry of Power to stimulate economic activities and help the nation to recuperate from economic lull induced by the pandemic.
Capex incurred over 10 SJVN projects of over 3,500 MW
Sharma added that SJVN’s capital expenditure has been spread over 10 projects of over 3,500 MW capacity that are in the construction stage. The capex utilisation implies the pace and quantum of works in progress in SJVN. These projects are 1,320 MW Buxar Thermal Power Project in Bihar, 900 MW Arun-3 Hydro Electric Project and 217 km Arun-3 Transmission Line in Nepal, 600 MW Kholongchuu Hydro Electric Project in Bhutan, 210 MW Luhri-1 Hydro Electric Project and 66 MW Dhaulasidh Hydro Electric Project in Himachal Pradesh, 60 MW Naitwar Mori Hydro Electric Project and 37 km Naitwar Mori Transmission Line in Uttarakhand and two solar projects in Bagodara and Parashan SPP. All these projects are in advanced stages of construction and are utilising the capital expenditure in a big way, said SJVN. “In our history of 33 years, we have never had so many projects in the construction stage at any given time. New vistas and business opportunities are opening for the company, which proves that our recently re-engineered Business Model is working well,” said Sharma.
Talking about the outstanding performance of SJVN’s generating power stations, the SJVN CMD said that in the latest achievement, for February 2022, the cumulative power generation from all power stations is 239 MU. Power generation has exceeded by 11MU compared to February 2021.
SJVN has a portfolio of more than 16,800 MW, of which 2,016.5 MW is under operation and the rest are under various stages of development. With a footprint in nine states of India and in two neighbouring countries of Nepal and Bhutan, SJVN now holds a diversified portfolio of hydro, thermal, wind and solar power projects. The company has also diversified into power transmission and holds a license for power trading. SJVN recently revised its capacity building targets to 5,000 MW by 2023, 25,000 MW by 2030 and 50,000 MW by 2040.
(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.)