Union Minister for Power and Housing & Urban Affairs, Shri Manohar Lal Khattar yesterday congratulated the Chairman & Managing Directors of NHPC and SJVN on the prestigious achievement of being conferred with ‘Navratna’ status by the Government of India. As per the order issued by the Department of Public Enterprises (Ministry of Finance) on 30.08.2024, this conferment provides greater operational and financial autonomy to these leading Central Public Sector Undertakings (CPSUs) in the hydropower sector.
He appreciated this progress and termed it a historic achievement for both the CPSUs. He encouraged them to aspire to achieve greater milestones in the future. He said, “This is a landmark moment for the country, as hydropower companies like NHPC and SJVN are playing a vital role in harnessing the hydropower potential, thereby strengthening the country in the power sector by limiting greenhouse gases or other pollutants.”
The Navratna status will empower NHPC and SJVN to make faster decisions, increase efficiency and provide more power. This status supports major capital expenditure (capex) decisions and investment plans, promotes growth, expands market access and achieves long-term benefits.
With these newly granted powers, NHPC and SJVN will have the autonomy to set up joint ventures abroad, access new markets and leverage local expertise. It will also promote innovation through technology alliances, strengthen market position and facilitate mergers and acquisitions, thereby boosting growth with increased market share.
At present the total installed capacity of NHPC and SJVN is 7144 MW and 2467 MW respectively. These companies are currently constructing projects of 10,443 MW by NHPC and 4836 MW by SJVN.
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