New Delhi: SJVN, a key player in India’s power sector, has been awarded the prestigious Navratna status by the Department of Public Enterprises, Government of India. This recognition marks a major milestone in the company’s 36-year journey, making it the 25th Central Public Sector Enterprise (CPSE) to achieve Navratna status.
SJVN Chairman & Managing Director, Sushil Sharma, expressed deep gratitude to Prime Minister Narendra Modi for his leadership and vision in guiding the company to this historic achievement. Sharma also thanked Finance Minister Nirmala Sitharaman and Power Minister Manohar Lal for their continued support, and extended special appreciation to the Government of Himachal Pradesh for its role as an equity partner in the company.
“The Navratna status is a recognition of SJVN’s exceptional financial performance and managerial efficiency,” said Sharma. “It not only acknowledges our past achievements but opens new avenues for larger projects and strategic partnerships, enabling us to contribute more significantly to India’s goal of 500 GW of renewable energy by 2030.”
With this elevated status, SJVN now enjoys greater financial and operational autonomy, allowing the company to invest in projects without a financial ceiling and allocate up to 30% of its net worth annually. This increased flexibility will help fast-track SJVN’s ambitious growth plans, including forming joint ventures, setting up overseas subsidiaries, and optimizing organizational operations.
SJVN was first awarded Miniratna status in 2008, and its growth trajectory since then has been impressive. The company currently manages a project portfolio of 56,802.4 MW, with 2,466.5 MW of installed capacity operational across hydro, solar, wind, thermal, and transmission lines. Founded 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 spanning India and Nepal.