- ‘SJVN will now be trading electricity generated by upcoming subsidiaries in the Renewable Energy Sector’
- ‘SJVN will also consolidate the power of small and medium power generators and trade into bulk power consumers’
New Delhi: A day after the Central Electricity Regulatory Commission (CERC) granted Category-I licence for inter-state electricity trading to SJVN Ltd, its Chairman and Managing Director (CMD) Nand Lal Sharma has said that the company aims to commence intra-state trading operations in India by tying up contracts to the extent of 900 MW round-the-clock (RTC) or equivalent. Hailing the grant of trading licence, Sharma said that another feather has been added to SJVN’s cap and the licence will give a big boost to its business.
“SJVN will now be trading electricity generated by any public and private generating companies including companies like SJVN Arun-3 Power Development Company (SAPDC), SJVN Thermal Pvt. Limited (STPL) and other upcoming subsidiaries in the Renewable Energy Sector,” said Sharma.
‘Efficient execution of electricity trading licence will benefit consumers’
Sharma stated that efficient execution of electricity trading in a competitive environment will ultimately benefit consumers in the spirit of the open access regime brought about by the Electricity Act, 2003 and through CERC and State Electricity Regulatory Commission (SERC) regulations subsequently. “SJVN aims to be a one-stop source for any generator and consumer wanting to trade power in the country and contribute to the evolution of a robust and competitive electricity market in India,” said the SJVN CMD.
SJVN will focus on fulfilling power supply deficiencies in states
Elaborating on the company’s strategy to commence electricity trading, Sharma said, “SJVN will focus on fulfilling power supply deficiencies across various states, while addressing seasonal and regional variance of demand and supply. SJVN will also consolidate the power of small and medium power generators and trade into bulk power consumers.”
While SJVN currently has the requisite infrastructure, state-of-the-art communication facilities and qualified and experienced staff to carry out trading activities efficiently. All incremental support system, manpower, and infrastructure requirements shall be dealt with as per need, said the CMD.
‘SJVN has strong portfolio of 41 projects of 16,432 MW capacity’
Sharma asserted that SJVN has a strong portfolio of 41 projects of 16,432 MW capacity and has already bagged 1,670 MW solar power capacity through competitive bidding process. Many more projects in the Renewable Energy sector are under bidding process, he said. SJVN has already established its footprints in nine states of India — Himachal Pradesh, Bihar, Maharashtra, Uttar Pradesh, Uttarakhand, Gujarat, Punjab, and Arunachal Pradesh — and in two neighbouring countries of Nepal and Bhutan.
These projects, Sharma said, will add up to the realisation of the company’s vision of capacity building of 5,000 MW by 2023, 12,000 MW by 2030 and 25,000 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.)