SJVN increases its Shared Vision target to 50000 MW by 2040
Considering the growing portfolio of SJVN, this upward revision of Shared Vision has become necessary, says Nand Lal Sharma, CMD SJVN.
SJVN Chairman & Managing Director, Nand Lal Sharma, announced that SJVN has upgraded its Shared Vision to 5000MW by 2023, 25000MW by 2030, and 50000MW by 2040.
The revision is due to the addition of multiple projects to its portfolio as well as its track record of successfully implementing mega hydro projects in India and abroad. Following Hydro, the company diversified into Thermal, Solar, Wind Power Generation, Power Transmission, and Power Trading.
SJVN had earlier announced its aim of installing 5000 MW by 2023, 12,000 MW by 2025 and 25,000 MW by 2040 at its 31 st Raising Day on 24 May 2018. The company has made rapid strides in its business development over the last three years.
According to Sharma, “SJVNites’ relentless efforts have led to the company having a portfolio of over 16000 MW. Thus, considering the growing portfolio of SJVN, this upward revision of Shared Vision has become necessary.”
In his Republic Day address, Sharma announced a Revised Shared Vision of 5000 MW installed capacity by 2023, 25,000 MW by 2030, and 50,000 MW by 2040.
According to him, SJVN had a 5000 MW portfolio four years ago. Of this, only 1965 MW were in operation. A number of projects, which had been parked on the drawing board for several years, have been moved forward into the construction stage. SJVN has never executed as many projects at one time as it is doing now.”
We are seeing rapid progress in construction on eight projects currently under development. The projects include 900 MW Arun 3 HEP in Nepal, 1320 MW Thermal Project in Bihar, 600 MW Kholongchhu HEP in Bhutan, 210 MW Luhri HEP and 66 MW Dhaulasidh HEP in Himachal Pradesh, and 60 MW Naitwar Mori HEP in Uttarakhand.
Currently, SJVN’s Solar & Wind portfolio is over 2750 MW, up from 5.6 MW last year. Solar projects in Uttar Pradesh, Punjab, Gujarat, and Uttar Pradesh are in various stages of development, including the 880 MW Kaza Solar Project in HP, the 200 MW Solar Project in Bihar and the 1000 MW IREDA Solar Project. Currently, the 75 MW Parasan and 70 MW Bagodara solar projects are in advanced stages of development and are scheduled to be commissioned by August 2022.
The company’s hydro portfolio has grown significantly. SJVN recently won the prestigious 669 MW Lower Arun Project in Nepal in an international competitive bidding process. In addition to 1912 MW of installed hydro power, projects of 10556 MW capacity are in various stages of development in India, Nepal, and Bhutan.
SJVN has re-engineered its Business Model to be in sync with Hon’ble Prime Minister Narendra Modi’s commitment of 500 GW of non-fossil fuel sources by 2030. Furthermore, under the guidance of Hon’ble Union Power Minister RK Singh, SJVN has expanded its business horizon across India and abroad and added a number of new projects to its portfolio.
SJVN has become a fully diversified multinational power company with the visionary leadership of CMD Sh Nand Lal Sharma. Through a number of initiatives adopted over the last year, SJVN has achieved many feats. In the areas of technical, financial, and human resources, the company engages best international consultants. SJVN aims to complete projects on time and within budget, avoiding time and cost overruns.
On 24th May 1988, SJVN was established as a Hydropower Project company. Today the company is implementing projects in Nepal, Bhutan, and eight states of the country. Its 1500 MW Nathpa Jhakri Hydro Power Station and 412 MW Rampur Hydro Power Station operate efficiently and continually set records for energy generation.
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