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Informist, Tuesday, Nov. 5, 2024

 

--SJVN: Some renewable projects execution delayed due to challenges 

--CONTEXT: SJVN management's comments in post-earnings analyst concall 

--SJVN: Jul-Sept incentive income INR 800 mln vs INR 590 mln year ago 

 

By Ketan Barot and Rajesh Gajra

 

MUMBAI – SJVN Ltd. plans to have 1.80 gigawatts of current installed capacity by the end of 2024-25 (Apr-Mar) and take the company's total capacity to 6.36 gigawatts by FY26. The company is planning to add 3 GW in FY27 and 1.70 GW in FY28, the company's management said in a post earnings conference call.

 

The company added 666 megawatts to the thermal power plant in Buxar, 70 MW in Bagodara, 500 MW in Bikaner, 100 MW in Punjab, 360 MW in Gujarat, and 75 MW in Bihar. The company is expecting an addition of 1.8 GW in FY25, the management said.

 

Due to delays in Buxar, Arun-3, Bikaner, and Luhri projects, the company revised its capital expenditure for FY25 to INR 90 billion from INR 120 billion, the company said. The company expects capital expenditure of INR 120 billion in FY26 and FY27.

 

The company said it has received approval from its board for an initial public offering of its green energy arm. The company will raise INR 10 billion and expects to complete the process by Mar. 21. The company said it has 494 megawatt under operation and 1.96 gigawatt under construction in its renewable energy portfolio. The company has also signed an 8 gigawatt project under a power purchase agreement. 

 

The company said that the incentive income for Jul-Sept was INR 800 million, up from INR 590 million in the same period a year ago. The company's incentive income is based on the design, energy, and performance of its plants. SJVN reported a net profit of INR 4.73 billion for the September quarter on revenues of INR 9.95 billion. Tuesday, shares of the company closed 1.9% higher at INR 113.56 on the National Stock Exchange.  End

 

Edited by Deepshikha Bhardwaj

 

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