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SJVN signs MoU to target 9,200 mn units generation this fiscal

New Delhi: Public sector power generator Satluj Jal Vidyut Nigam (SJVN) Ltd has signed an MoU with the Union Power Ministry setting a target of generating 9,200 million units of electricity, according to an official announcement on Friday.

A Power Ministry release said that under the MoU, SJVN has also set a capital expenditure target of Rs 900 crore and a turnover target of Rs 2,175 crore along with other targets related to operational efficiency and project monitoring.

SJVN is a joint venture of the central and Himachal Pradesh governments and operates one of the largest hydropower plants in the country - the 1,500 MW Nathpa Jhakri project located in Himachal's Kinnaur district, which started operating in 2004-05. 

"As per the targets set in the MoU, SJVN shall strive to achieve 9,200 million units generation during the year," the statement said. 

In fiscal 2017-18, against the target of 8,950 million units, SJVN generated 9,280 million units from its projects under operation with an installed capacity of 1,964 MW, it said. 

The combined power generated came from the Nathpa Jhakri plant, 412 MW Rampur hydroelectric project, 47.6 MW Khirvire wind power project in Maharashtra and the 5 MW Charanka solar power station in Gujarat.

The Ministry said that SJVN has already paid an interim dividend of Rs 785.95 crore to its shareholders in the last financial year. 

"Currently, SJVN has four projects with capacity of 1,610 MW under construction and another four projects with capacity of 2,155 MW under various stages of clearances, soon to enter construction," it said.

According to the government, SJVN envisages being an over 5,700 MW generating company in the coming years.