The Shimla headquartered power company Satluj Jal Vidyut Nigam (SJVN) along with three other central public sector enterprises (CPSEs) have been accorded the Navratna status for their rising business status.
Finance minister Nirmala Sitharaman on Friday (30.8.2024) approved the upgradation of SJVN and Railtel Corporation of India, Solar Energy Corporation of India and National Hydroelectric Power Corporation (NHPC) to Navratna status.
With the addition of these CPSEs the total number of Navratnas in the country has gone up to 25.
With an equity capital of Rs 3930 crore, SJVN today has a market cap of more than Rs 52,400 crores.
Incorporated on 24 May, 1988, SJVN is a joint venture government power company with the Central Government having a 55% shareholding, the government of Himachal Pradesh has 26.85% shareholding and the balance 18.15% is with the public.
Driven by a river basin approach to developing hydropower in the early days of the company, SJVN, then known as Nathpa Jhakri Power Co, executed the 1500 MW Nathpa Jhakri project that was commissioned in 2003.
Since the company has expanded its operation to Thermal, Solar, Wind power project and is also operating transmission lines. Currently the company is operating 14 power generation plants that have a production capacity of 2467 MW and 123 Km of transmission line.
Besides Himachal Pradesh, SJVN has a footprint in Uttarakhand, Bihar, Maharashtra, Uttar Pradesh, Punjab, Gujarat, Arunachal Pradesh, Rajasthan, Assam, Odisha, Mizoram and Madhya Pradesh. The company also has made an international foray and is executing hydropower project on Arun River basin in Nepal.
