SJVN records revenue of ₹3,299 core, up by 25.62% in 2022-23

The PSU generated a revenue of ₹3,299 crores in FY 2022-23 while in the previous FY, SJVN earned ₹1,363.45 crores

Sutlej Jal Vidyut Nigam (SJVN) Limited, a central power sector undertaking (PSU) under the ministry of power, witnessed a 25.62 % increase in the revenue in the financial year 2022-23.

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The PSU generated a revenue of ₹3,299 crores in FY 2022-23 while in the previous FY, SJVN earned ₹1,363.45 crores.

While addressing a press conference in Shimla on Saturday, chairman and managing director Nand Lal Sharma said the PSU aims to increase its capacity to 12,000 mega watt (MW) by 2026, 25,000 MW by 2030 and 50,000 MW by 2040.

“It will enable the company to increase the renewable portfolio by diversifying into solar, wind, hybrid, floating solar and ocean hybrid platforms pan India,” he said.

“Mostly the opportunities are in the form of competitive bidding processes for solar, wind and hybrid (solar + wind) to add projects at a rate of 1-1.5 GW per year,” said Sharma.

He said the current installed capacity of SJVN is 2091.50 MW, including 1912 MW of hydro, 97.6 MW of wind power and 81.9 MW of solar power.

At present, the total project portfolio of SJVN, comprising 85 projects and three transmission lines is 58144 MW, out of which 2091.5 MW is under operation and the rest of the projects are under various stages of development.

Briefing the financial achievements of SJVN, the MD said, “The profit after tax (PAT) recorded in FY 2022-23 also increased by 39.48% in FY 2022-23. PAT in FY 2022-23 is ₹1363.45 crores while it earned ₹977.52 crores in FY 2021-22.”

SJVN’s two flagship hydropower stations in Himachal Pradesh made a new record by showing an all-time high record of 50.534 MU in single-day power generation on July 18.

He further said SJVN signed power purchase agreements for 200 MW solar power project capacity with Maharashtra State Electricity Distribution Company Limited and with Solar Energy Corporation of India Limited for 100 MW wind power capacity in this year. The power usage agreement for the supply of 500 MW solar power from the ongoing 1000 MW Bikaner SPP has been signed with Punjab State Power Corporation Limited.

“The company also operates one transmission line of 86 km length while another one of 217 Km from Arun-3 HEP in Nepal to Bathnaha on the Nepal-India border is under construction,” said Sharma.