SJVN to make foray into thermal generation

SJVN Thermal Power VentureShimla: Moving beyond hydropower, public sector generation company SJVN is intending to make a foray into thermal power and is exploring the possibility of setting up super critical thermal plant in Bihar.

Speaking to reporters after sharing the annual performance of the company, RP Singh chairman & managing director SJVN, said that the initial proposal was for setting up a 1320 MW thermal plant (two units of 660 MW) at Chausa in Bihar for which the company intended to secure a coal block.

The tariff from the proposed plant was intended to be cost plus basis, with an option to expand to 2000 MW generation capacity, said Singh. However, he said that memorandum of understanding (MoU) for the project was yet to be signed with the Bihar government.

He said that SJVN was also venturing into wind energy field with targeted initial capacity addition of 50MW by June, 2013.

Having netted a record profit of Rs 1068.68 crore for the year 2011-12, public sector power generating company SJVN on Tuesday declared a dividend of Rs 388.84 crore, an increase of 17 percent over last year.

Against a per share dividend of Re 0.80 in 2010-11, the dividend payout announced is Re 0.94 for the last fiscal.

With the union government holding 65% equity in SJVN, it is to get Rs 250.66 Cr dividend and the Himachal Pradesh government having 25% equity, the dividend it would get is Rs 99.17 Cr. The remaining 10 percent shareholding is with the public.

The chairman disclosed that last fiscal the flagship 1500 MW Nathpa Jhakri hydropower station generated a record 7610 MU of energy against 7140 MU of energy generated in the previous year and realized gross revenues of Rs 2136.79 Cr.

Till August 31, in the current year the plant has generated 4328 MU, which was higher than the targets set out, he added.

The 412 MW Rampur project was in advanced stage of construction and was scheduled for commissioning in September 2013.

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