The Department of Public Enterprises, Government of India has conferred Navratna status on SJVN, a significant milestone in the Company’s 36-year history. This recognition establishes SJVN as the 25th Navratna Central Public Sector Enterprise (CPSE) in India.
Expressing pride in the Company’s achievement, Sushil Sharma, Chairman and Managing Director, SJVN said, “Navratna status is conferred on select CPSEs that have consistently demonstrated exceptional financial performance and managerial efficiency. This recognition will provide us with greater financial and operational freedom to pursue our business interests and contribute to the energy security of the country.”
The Navratna status not only recognises SJVN’s past successes but also paves the way for the Company to undertake larger projects and forge strategic partnerships. This is in line with the Government’s ambitious vision of achieving 500 GW of renewable energy capacity by 2030, in which SJVN is expected to play a key role.
With this enhanced status, SJVN now enjoys greater autonomy, allowing it to invest in its projects without any financial limits. The company can also invest up to 30% of its net worth annually, which will further fuel its ambitious expansion plans. Additionally, SJVN is now empowered to form joint ventures, set up overseas subsidiaries and undertake organizational restructuring to optimize its operations.
SJVN was earlier granted Miniratna status in 2008. Over the years, it has expanded its portfolio to include projects totaling 56,802.4 MW across hydro, solar, wind, thermal and transmission lines. Currently, the company operates thirteen projects with an installed capacity of 2,466.5 MW and has 75 projects at various stages of implementation.
Established in 1988 as a joint venture between the Government of India and the Government of Himachal Pradesh, SJVN has evolved into a multi-faceted power entity with operations in India and Nepal. The conferment of Navratna status is a significant milestone in its ongoing journey towards contributing to India’s energy security and sustainable development goals.
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