SJVN aims to contribute to the evolution of a robust and competitive electricity market in India, CMD Nand Lal Sharma said.
SHIMLA, Jan 11 (The CONNECT) – Listed entity SVJN is all set to enter the power trading business with the Central Electricity Regulatory Commission (CERC) granting the license.
The Commission said that SJVN meets the requirements of the Act and the Trading License Regulations for grant of inter -State trading license. a Mini Ratna entity under the Union Power Ministry, SVJN is a joint venture of the Centre and Himachal Pradesh.
Nand Lal Sharma, SVJN Chairman & Managing Director, said the trading license gives a big boost to the company’s business. SJVN will now be trading electricity generated by any public and private generating companies including companies like SJVN Arun-3 Power Development Company (SAPDC), SJVN Thermal Pvt. Limited (STPL) and other upcoming Subsidiaries in Renewable Sector.
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.
SJVN aims to be a one-stop source for any generator and consumer wanting to trade power in the country and contribute to the evolution of a robust and competitive electricity market in India, he explained.
Sharma emphasized that SJVN has an adequate infrastructure, with state-of-the-art communication facilities and qualified and experienced staff for this task. SJVN has an energetic core business team with enormous knowledge of power sector related to renewable and non-renewable energy and trading thereof.
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. Many more Projects in the Renewable Sector are under bidding process. SJVN has already established its footprints in nine States of India viz Himachal Pradesh, Bihar, Maharashtra, Uttar Pradesh, Uttarakhand, Gujarat, Punjab, Arunachal Pradesh and in two neighbouring countries namely Nepal and Bhutan.
These projects will add up to realization of the company’s Shared Vision of capacity building of 5000 MW by 2023, 12000 MW by 2030 & 25000 MW by 2040.