NHPC And SJVNL Conferred ‘Navratna’ Status By Indian Government, Boosting Operational Autonomy And Growth

The Indian Government has awarded the prestigious ‘Navratna’ status to NHPC Limited and SJVN Limited, two leading hydro power Central Public Sector Undertakings (CPSUs), granting them greater operational and financial autonomy. The announcement, made by the Department of Public Enterprises under the Ministry of Finance on August 30, 2024, marks a significant milestone for both companies and reflects their crucial role in advancing India’s energy sector.

Shri R.K. Chaudhary, Chairman and Managing Director of NHPC, hailed the designation as a “historic moment” for the NHPC family, underscoring the company’s remarkable financial and operational accomplishments. “NHPC has been an important player in the Indian power sector and has played a key role in tapping the hydropower potential of the country. We are a complete green power company which has also diversified into wind and solar energy options,” said Shri Chaudhary. His sentiments were echoed by Union Minister for Power and Housing & Urban Affairs, Shri Manohar Lal, who praised both NHPC and SJVN for their contributions to harnessing hydro power and reducing greenhouse gas emissions.

The Navratna status provides NHPC and SJVNL with several strategic advantages, including faster decision-making capabilities, increased efficiency, and greater empowerment for their employees. This enhanced autonomy will support major capital expenditure (CAPEX) and investment plans, driving growth, expanding market reach, and achieving long-term gains. The status also grants both companies the authority to establish joint ventures and overseas offices, enabling them to access new markets and leverage local expertise. Furthermore, it is expected to foster innovation, strengthen technological alliances, enhance market positioning, and facilitate mergers and acquisitions, leading to an increased market share.

Currently, NHPC boasts a total installed capacity of 7,144 MW and is involved in constructing projects with a combined capacity of 10,443 MW. Major projects under development include the 2,000 MW Subansiri Lower project in Assam and Arunachal Pradesh, and the 2,880 MW Dibang Multi-purpose project in Arunachal Pradesh. NHPC aims to achieve an installed capacity of 23,000 MW by 2032 and 50,000 MW by 2047, solidifying its role in India’s push for sustainable and renewable energy.

SJVNL, with a total installed capacity of 2,467 MW, is also pursuing significant expansion, with projects totaling 4,836 MW currently under construction. The recognition of both NHPC and SJVNL as Navratna companies underscores their importance in India’s renewable energy landscape and their potential to lead the nation toward a greener future.