SJVN TO INVEST RS 16000 CRORE BY 2023 TO ADD 3000 MW POWER GENERATION CAPACITY -DECLARES A DIVIDEND PAYOUT OF RS 864 CRORE @ RS.2.10 A SHARE

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Public Sector SJVN Limited plans an investment of Rs.16,000 crore to add 3000 MW to its installed capacity by 2023. The company already has an installed capacity of 2003 MW from its two hydro power plants, one wind power and one Solar Power Plant located in Himachal Pradesh, Maharashtra and Gujarat.
This was disclosed by Nand Lal Sharma, Chairman & Managing Director of the Company at a Media conference here today. Sharing the financial results for the year 2017-18, Sharma told that the company had reported a revenue generation of Rs.2587 crore including other income of Rs357 crore and a net profit of Rs.1225 crore from its operations during the financial year 2017-18.

Based on the financial performance SJVN Limited has declared a dividend of Rs.864.56 crore which translates into a payout of Rs.2.10 per equity share of the face value of Rs.10 to the share holders. Government of India and the Government of Himachal Pradesh are the major equity holders in the company.

Nand Lal Sharma further informed that the company had also bought back 20,68,31,325 fully paid equity shares from the share holders, representing 5 percent of the total holding at a price of Rs.38.75 per equity share. The paid up capital of the company, he told, had thus reduced to Rs.3929.79 crore from Rs.4136.26 crore earlier.

During the last 14 years of its commercial operations, SJVN has already paid a dividend of Rs.3890 crore to Government of India holding 63 percent equity and Rs 1485 crore to the Government of Himachal Pradesh holding 26.85 percent equity besides Rs.469 crore to the Public share holders hoding the remaining 9.37 percent equity..

Sharma told that the company had achieved a cumulative power generation of 9280 million units during the last financial year surpassing the MoU target of 8950 million units as well as design energy of 8584 million units from its four power plants in operation. The generation, he added, was also 240 million units more than the previous year.

In the hydro power sector, the company’s flagship 1500 MW Nathpa Jhakri Hydro Power Station on river Satluj in Himachal Pradesh, he told, had generated 7207 million units while the downstream 412 MW Rampur Hydro Power Station had generated 2014 million units of electricity. Nand Lal Sharma informed that the company had also made headway in the renewable sector as well. The electricity generation from wind power, he told, was 51 million units from its 47 MW Khirvire Wind Power Station in Maharashtra and 6.5 Million units from its 5 MW Charnkha Solar Power Plant in Gujarat. The company’s 50 MW Sadla Wind Power Project in Gujarat, he informed, was also heading for completion during the current year.

Not only the large power plants, the company, Sharma added, had also established four captive power plants with an aggregate capacity of 360 kW at its projects and corporate office which are catering to the local in- house needs of the company.

The Plant Availability Factor during the last financial year, he told, was 99.34 percent against the target of 97.50 percent.

Talking about the company’s performance during the first two quarters of the current financial year, Nand Lal Sharma informed that against the annual target of 9200 million units, the four power stations had cumulatively generated 6145 million units already and the company was also heading to beat the revenue generation target of Rs.2175 crore.

SJVN, Nand Lal Sharma informed was in the process of implementing 9 hydro power projects in Himachal Pradesh and Uttrakhand besides Nepal and Bhutan to add 2638 MW to its existing 1912 MW Hydro Power capacity. In the thermal sector, he informed that the company was implementing a 1320 MW project at Buxar in Bihar while in the renewable sector SJVN has plans to add 50 MW from its wind power project at Sadla in Gujarat which is in an advanced stage of completion.

Construction activities at the company’s 900 MW Arun -3 Hydro Power Project, Sharma told, had already commenced after laying of its foundation stone by the Prime Minister of India on 11th May 2018 and this project had become the first mega hydro power project being undertaken by an Indian company in Nepal. Similarly construction activities at the company’s 60 MW Naitwar Mori Hydro Power Project in Uttarakhand, he told, had also commenced after its foundation stone laying by the Union Minister of State for Power on 30th March, 2018.

SJVN, Sharma said was thus heading to become a 6000 MW company shortly with multi states and multi nations operations in the hydro power, wind power, solar power and thermal power sector.

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