New Delhi: Satluj Jal Vidyut Nigam Ltd (SJVN) has been granted Navratna status by the Department of Public Enterprises, Government of India, making it the 25th public sector company to achieve this honour. This recognition marks an important step in SJVN’s growth, as the company continues to expand its presence in the energy sector.

Navratna status is awarded to select Central Public Sector Enterprises (CPSEs) that demonstrate strong financial performance and effective management. This new status gives SJVN more financial and operational independence, enabling it to take on larger projects, form partnerships, and make significant contributions to the government’s target of 500 GW of renewable energy by 2030.

SJVN’s Chairman and Managing Director, Sushil Sharma, highlighted the benefits of the recognition, saying it provides the company with the ability to invest in its projects without financial restrictions. The company can now invest up to 30% of its net worth annually, giving it the flexibility to accelerate its expansion. Additionally, the new autonomy allows SJVN to form joint ventures, set up subsidiaries abroad, and restructure its operations to improve efficiency.

Founded in 1988 as a joint venture between the Government of India and the Government of Himachal Pradesh, SJVN has grown into a key player in the power sector. It currently operates 13 projects with a total installed capacity of 2466.5 MW and manages a broader portfolio of 56,802.4 MW. Its projects span hydro, solar, wind, thermal, and transmission lines, with 75 more projects at various stages of development.

SJVN previously earned Miniratna status in 2008 and has continued to expand its operations in both India and Nepal. Sushil Sharma thanked the government, particularly the Prime Minister, Finance Minister, and Power Minister, for their support, along with the Government of Himachal Pradesh, which has been a valuable equity partner. /BI