SJVN targets 5,000 mw power capacity by FY23
SHIMLA: 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 on Wednesday. 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.