SJVN bags World Bank funding with CDM benefits

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New Delhi, Sep 29 (UNI) Satluj Jal Vidyut Nigam (SJVN) has become the first hydro electric company in India to get World Bank funding for its 412-MW Rampur hydroelectric project in Himachal Pradesh, a large project tied with clean development mechanism (CDM) benefits.

Complimenting SJVN, Power Minister Sushilkumar Shinde during a review meeting here, advised the corporation to tie up with more hydro electric projects with concessional funding.

The SJVN has emerged as a major regional player in hydro power through internal accruals having bagged the 402-MW Arun-3 hydroelectric project after competitive bidding in Nepal, he noted.

The corporation is also preparing detailed project reports for the two hydro electric projects in Bhutan, namely the 900-MW Wangchu hydroelectric project and the 486-MW Kholangchu hydroelectric project.

Elaborating, SJVN Chairman-cum-Managing Director H K Sharma said the corporation since its inception had displayed sustained growth in hydropower. It has successfully commissioned all six units of 250 MW each ahead of the revised targeted schedule of July 2004. Synchronisation of all the six units with the country's northern grid within six months' time (the first one in September 2003 and the last one before the end of March 2004) established a new benchmark in hydropower development in India.

Generation from the 1,500 MW Nathpa Jhakri hydel power station (NJHPS) will surpass 28,000 million KWh this month within less than five years of its operation. Generation during the last FY 2007-08 stood at 6,449 MU which was in excess of the MoU target and much higher than the first year's achievement of 5,108 MU.

SJVN's profit after tax was at Rs 764.51 crore during 2007-08 against the first year's profit of Rs 298.43 crore. It had paid dividend to the Government since the first year of its attainment of full capacity in 2004-05. For 2007-08, divided of Rs 244 crore has been declared.

Having sufficient reserves for the execution of the projects in hand and for the future upcoming projects from internal resources besides loans from international and domestic banks, the corporation has offers of funding tie ups from the World Bank and other agencies. Its capacity addition under execution is of 2,962 MW (of which 412 MW is under construction).

Conferred with the coveted status of miniratna within only five years of starting commercial operations, it has the largest underground 1,500 MW Hydro Electric Power Station and expanded its base from a single project to a multi project and to a national corporation.

Its present installed capacity is 1,500 MW. and capacity addition under execution by the corporation is 2,962 MW (412 MW- under construction, and 2,550 MW under investigation/implementation).

Besides the Rampur Project, the Corporation is executing Devsari hydroelectric project (252 MW), Jakhol Sankri hydroelectric project (45 MW), Naitwar Mori hydroelectric project (56 MW) in Uttarakhand State.

Further, SJVN has also been allocated Luhri hydroelectric project (775 MW) and Khab hydroelectric project (1,020 MW) and Dhaulasidh HEP (40 MW) for preparation of detailed project report and execution thereafter.

UNI SD AK GC1600

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