SJVN has been awarded the prestigious Navratna status by the Department of Public Enterprises, Government of India. This honor makes SJVN the 25th Navratna company in the country and represents a significant milestone in the company’s 36-year history.
Sushil Sharma, Chairman & Managing Director of SJVN, expressed his deep gratitude for the visionary leadership of Prime Minister, which he credited for helping the company reach this historic achievement. He also acknowledged the continuous guidance and unwavering support of Finance Minister Nirmala Sitharaman and Power Minister Manohar Lal. Furthermore, Sharma extended special thanks to the Government of Himachal Pradesh for its consistent assistance as an equity partner.
‘The Navratna status is conferred upon select Central Public Sector Enterprises (CPSEs) that have consistently demonstrated exceptional financial performance and managerial efficiency. This will allow us greater financial and operational freedom to further our business interests and contribute to the nation’s energy security,’ said Sh. Sharma. ‘The Navratna status not only recognizes SJVN’s past achievements but also sets the stage for us to undertake larger projects, form strategic partnerships, and contribute more significantly to the government’s vision of achieving 500 GW of renewable energy capacity by 2030.’
With this new status, SJVN can now invest in its projects without any financial ceiling, thereby accelerating its growth trajectory. The company can also invest up to 30% of its net worth annually, further fueling its ambitious expansion plans. The enhanced autonomy provided by the Navratna status allows SJVN to form joint ventures, establish overseas subsidiaries, and undertake organizational restructuring to optimize operations.
Established in 1988 as a joint venture between the Government of India and the Government of Himachal Pradesh, SJVN has evolved into a multifaceted power entity with operations across India and Nepal. In 2008, SJVN was granted Miniratna status. Today, the company boasts a project portfolio of 56,802.4 MW, with 13 projects totaling 2,466.5 MW of installed capacity under operation and 75 projects at various stages of implementation, spanning hydro, solar, wind, thermal, and transmission lines.
