SJVN to get World Bank funding with CDM benefits

New Delhi, Sept 29 (ANI): Union Minister of Power Sushil kumar Shinde has complimented Satluj Jal Vidyut Nigam (SJVN) for being the first Hydro Electric Company in India to get World Bank Funding for a large Hydroelectric Project, the Rampur HEP (412 MW) in Himachal Pradesh tied with Clean Development Mechanism (CDM) benefits.

During the review meeting held here, Shinde advised SJVN to tie up more hydro electric Projects with concessional funding and noted with satisfaction that it was emerging as a major regional player in hydro power through its internal accruals having bagged the Arun-3 hydroelectric project (402 MW) through competitive bidding in Nepal.

It was also updating or preparing Detailed Project Reports for two Hydro Electric Projects in Bhutan namely 900 MW Wangchu HE Project and 486 MW Kholangchu HE Project.

Chairman cum Managing Director, SJVN informed that the Corporation since its inception has displayed a sustained growth in all aspects of the hydropower arena.

SJVN successfully commissioned all the six units of 250 MW each ahead of the revised targeted schedule of July, 2004. Synchronization of all the six units with the country's Northern Grid within a time frame of six months (the first one in September 2003 and the last one before the end of March 2004) established a new bench mark in hydropower development in India.

Generation from the 1500 MW Nathpa Jhakri Hydel Power Station (NJHPS) will surpass 28,000 million KWh in within a period of less than five years of its operation. Generation during the last FY 2007-08 was 6449 MU which was in excess of the MOU target which was much higher than the first year's achievement of 5108 MU. The Profit earned by the Corporation has been increasing constantly.

The Corporation earned a Profit (After Tax) of Rs. 764.51 crore during the year 2007-08 against the first year's profit of Rs. 298.43 crore. SJVN has been paying dividend to the Government since the first year of its attainment of full capacity in 2004-05. SJVN has declared Divided of Rs.244.00 crore for the year 2007-08. SJVN has got sufficient reserves and sound funding plan for the execution of the projects in hand and for the future upcoming projects from the internal resources besides loans from international and domestic banks and has available offers of funding tie ups from the World Bank and other agencies.

The present installed capacity of SJVN is 1500 MW. The capacity addition under execution by the Corporation is of 2962 MW (412 MW- under construction, and 2550 MW under investigation or implementation).

Besides the Rampur Project, the Corporation is executing the Devsari Hydro Electric Project (252 MW), the Jakhol Sankri Hydro Electric Project (45 MW), the Naitwar Mori Hydro Electric Project (56 MW) in Uttarakhand State. Further, SJVN has also been allocated Luhri Hydro Electric Project (775 MW) and the Khab Hydro Electric Project (1020 MW) and the Dhaulasidh HEP (40 MW) for preparation of detailed project report and execution thereafter. (ANI)