SJVN Ltd, in a release, said that it has surpassed its capital expenditure target for the recently-concluded FY23.
As against the target of Rs.8,000 crore set by the Union power ministry, capital expenditure by SJVN in FY23 stood at Rs.8,240 crore.
The release also noted that the capex target of Rs.8,000 crore was the third-highest amongst Central PSUs in the power ministry. SJVN’s capital expenditure in FY23 was 58 percent higher than the actual level in FY22.
In the last six years, the company has experienced a 65 percent % Compound Annual Growth Rate (CAGR).
SJVN’s hydropower projects in India and abroad have registered a year-on-year expenditure jump of 30 percent in FY23. Renewable energy projects have witnessed a massive surge of 548 percent in capex as compared to FY22.
SJVN has set a capital expenditure target of Rs.10,000 crore for FY24.
Also read: SJVN Secures Japanese Funding For Solar Projects
Currently, SJVN has a project portfolio of 46,879 MW with 74 projects in various stages of development and working towards its Shared Vision of having an installed capacity of 5 GW by FY24, moving up to 50 GW by 2040.
Power CPSU Capex
As already reported by T&D India, Central PSUs in the power ministry are expected to collectively undertake a capital expenditure of Rs.60,805 crore in FY24. This would be 15 percent higher than the comparable estimated level of Rs.52,878 crore in FY23. (Read full story)
The featured photograph is a file picture relating to the commissioning of SJVN’s Rampur hydropower project in Himachal Pradesh.