SJVN Limited, NHPC Limited and SECI Limited have been elevated to the ‘Navratna’ status by the Ministry of Finance on August 30, 2024. This will give significant benefits to the enterprises and allow them greater operational and financial autonomy.
NHPC Limited will have enhanced powers to establish joint ventures and overseas offices, access new markets and leverage local expertise. It will also be able to enable mergers and acquisitions, thus increasing market share. Greater operational autonomy is expected to make decision making faster. Financial autonomy will also allow NHPC to support large capital expenditure and investment plans.
Currently, NHPC’s total installed capacity is 7,144.20 MW with 10,442.70 MW of projects under construction. These include the 2,000 MW Subansiri Lower project and 2,880 MW Dibang Multi-purpose project (Arunachal Pradesh).
SJVN will be eligible to make investment on its projects without any financial ceiling. This will help accelerate the growth of the company. Furthermore, SJVN can invest up to 30 per cent of its net worth annually. SJVN will also be able to form joint ventures, set up overseas subsidiaries and undertake organisational restructuring to optimise its operations. Currently, SJVN has a project portfolio of 56,802.4 MW across hydro, solar, wind, thermal, and transmission segments.
With the upgradation to Navratna status, SECI will have a higher degree of financial and operational autonomy. This will fast-track the company’s progress. Currently, SECI is the largest renewable energy implementing agency of India. In FY 2023-24, SECI had a consolidated annual turnover of Rs. 131.19 billion. They also had a profit after tax of Rs 5.11 billion showing a growth 34.89 per cent in the FY 2023-24.
