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SJVNL aims to generate power worth Rs.1,557 crore

Delhi,Business/Economy, Mon, 26 Mar 2012 IANS

New Delhi, March 26 (IANS) The Satluj Jal Vidyut Nigam Limited (SJVNL), which owns and operates India's largest hydropower project in Himachal Pradesh, Monday fixed a target to generate 7,000 million units with a revenue realisation of Rs.1,557 crore in the next fiscal.


A memorandum of understanding (MoU) in this regard was signed here Monday between P. Uma Shankar, union secretary (power), and R.P. Singh, SJVNL chief managing director.


SJVNL Deputy General Manager Vijay Verma told IANS that till date the project, located in Kinnaur district that started generation in 2004-05, generated 7,551 million units against the targeted generation of 6,900 million units.


As per the MoU, the target of construction of its second mega hydropower project, the 412 MW Rampur hydroelectric project in upper Shimla, will be completed by September 2013.


It's also executing one project each in Nepal and Bhutan.


SJVNL is a joint venture between the central and the Himachal Pradesh governments. The former holds 74.5 percent stake, while the remaining 25.5 percent is held by the state government.


However, the central government sold its 10 percent equity in May 2010.


The company in January announced a 20 percent increase in its profit before tax for the third quarter of fiscal 2011-12 ending December.


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