CERC grants trading license to SJVN for the interstate trading of electricity
The Central Electricity Regulatory Commission (CERC) awarded a Trading License to hydro-electric power generation and transmission company SJVN Ltd for interstate electricity trading.
The Central Electricity Regulatory Commission (CERC) has granted a trading license to hydropower generation and transmission firm SJVN Ltd for the interstate trading of electricity. For granting an interstate trading license, SJVN complies with the Act and the Trading License Regulations, according to the commission.
The Chairman and Managing Director of SJVN, Nand Lal Sharma, commented on the achievement that another feather has been added to SJVN’s cap, boosting its business. It will now be possible for SJVN to trade electricity generated by any public and private generation companies, such as the SJVN Arun-3 Power Development Company (SAPDC), SJVN Thermal Pvt Ltd (STPL), and other subsidiaries in the renewables sector.
In the spirit of the open-access regime imposed by the Electricity Act of 2003 and subsequent CERC and SERC regulations, Sharma stressed the essentiality of efficient electricity trading in a competitive environment that ultimately benefits consumers.
A major objective of SJVN, he added, is to improve the performance of the electricity market in India and provide a one-stop source for generators and consumers who are interested in trading power.
In addition, he pointed out that SJVN has a well-developed infrastructure which includes cutting-edge communication technology and qualified and experienced staff. SJVN has a highly experienced core business team with vast knowledge of the energy sector, relating to renewable and non-renewable energy as well as energy trading.
The company would also consolidate the power of small and medium power generators and sell it to bulk power consumers. Despite the fact that SJVN currently has the requisite infrastructure and personnel to carry out its trading activities efficiently, all additional support systems, personnel, and infrastructure requirements will be addressed as required, he said.
In addition to addressing seasonal and regional variances in demand and supply, Sharma said that SJVN will focus on solving power supply deficiencies across various states. As per Sharma, SJVN also plans to begin intra-state trading operations in India by tying up contracts up to 900 MW round-the-clock or equivalent.
There are 41 projects in the company’s portfolio with a capacity of 16,432 MW. Through competitive bidding, the company has managed to secure 1,670 MW of solar power capacity.
The bidding process for many more projects is underway in the renewable sector, according to Sharma. The vision of SJVN Ltd is to build 5 GW of capacity by 2023, 12 GW by 2030, and 25 GW by 2040.
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