SJVN

ACME Solar Holdings Ltd has secured a 400 MW firm and dispatchable renewable energy project from SJVN Limited under the FDRE-IV tender, marking a pivotal step in India’s transition toward round-the-clock clean power. The 25-year contract, awarded at a tariff of ₹6.75 per unit, combines 300 MW of solar generation with 1,800 MWh of battery energy storage, enabling ACME to supply firm power during peak demand hours.

SJVN Limited, a leading player in the renewable energy sector, reported a 36% drop in its net profit for the first quarter, falling to Rs 228 crore compared to the same period last year. The decline reflects a mix of operational headwinds and fluctuating power generation levels. Despite this setback, the company continues to pursue strategic projects aimed at bolstering its renewable portfolio and long-term growth. Market analysts view the results as a temporary challenge, emphasizing SJVN’s potential to rebound amid India’s expanding clean energy landscape.

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Sipan Kumar Garg has been appointed as Director (Finance) of SJVN Limited, marking a significant addition to the leadership of India’s prominent power sector enterprise. With extensive experience in financial management, Garg is expected to drive the company’s strategic fiscal initiatives, ensuring robust governance and prudent capital deployment. His appointment signals SJVN’s focus on strengthening its balance sheet while pursuing ambitious growth plans across renewable and hydroelectric projects.

State-owned energy giant SJVN has announced an interim dividend payment of Rs 121.33 crore to the Himachal Pradesh government for the fiscal year 2024-25. This payment is part of a larger Rs 451.93 crore interim dividend declared by the company, with the Government of India receiving Rs 248.55 crore and public shareholders receiving Rs 82.05 crore. SJVN continues to expand its footprint in the energy sector, with ambitious plans to increase its installed capacity to 25,000 MW by 2030 and 50,000 MW by 2040.