- SJVN Ltd plans to have a 25 GW capacity by 2040. The firm has an operational portfolio of 2 GW and is executing 27 projects in hydropower, thermal, solar and wind sectors in India, Bhutan and Nepal
NEW DELHI: SJVN Ltd will foray into power trading business following the Central Electricity Regulatory Commission (CERC) granting it a trading licence.
“Central Electricity Regulatory Commission (CERC) has granted Trading Licence to SJVN Limited for interstate trading of electricity. The Commission said that SJVN meets the requirements of the Act and the Trading Licence Regulations for grant of inter-state trading licence,” SJVN said in a statement on Tuesday.
This comes at a time when electricity prices on Indian power exchanges have surged given growing demand
“Nand Lal Sharma, Chairman & Managing Director of the company, said that by the grant of Trading Licence, another feather has been added to SJVN’s Cap, giving a big boost to its business. SJVN will now be trading electricity generated by any public & private generating companies including companies like SJVN Arun-3 Power Development Company (SAPDC), SJVN Thermal Pvt. Ltd (STPL) and other upcoming subsidiaries in renewable sector,” as per a statement.
Of about 1,381 billion units (BU) of electricity consumed in India, only 7% is traded is on power exchanges.
“Sharma stated that efficient execution of electricity trading in a competitive environment will ultimately benefit consumers in the spirit of the open access regime brought about by the Electricity Act, 2003 and subsequent CERC & SERC regulations,” the statement said.
SJVN Ltd plans to have a 25 GW capacity by 2040. The firm has an operational portfolio of 2 GW and is executing 27 projects in hydropower, thermal, solar and wind sectors in India, Bhutan and Nepal.
“Sharma further said that, SJVN will focus on fulfilling power supply deficiencies across various states while also addressing seasonal and regional variance of demand and supply. SJVN will also consolidate the power of small and medium power generators and trade into bulk power consumers,” the statement said.
SJVN Ltd has also pitched for more hydropower projects from Nepal as part of India’s playbook of helping build a South Asia-focused energy security architecture.
“Sharma informed that SJVN has a strong portfolio of 41 projects of 16432 MW capacity and has already bagged 1670 MW Solar Power capacity through competitive Bidding Process,” the statement said.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!
Log in to our website to save your bookmarks. It’ll just take a moment.
Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
Your session has expired, please login again.
You are now subscribed to our newsletters. In case you can’t find any email from our side, please check the spam folder.
This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp