SJVN Limited, a prominent player in India’s power generation industry, has been a beacon of sustainable energy since its inception on May 24, 1988. Established as a joint venture between the Government of India and the Government of Himachal Pradesh, SJVN has evolved into a listed company with a robust shareholder base. Currently, the company’s ownership stands at 59.92% with the Government of India, 26.85% with the Government of Himachal Pradesh, and the remaining 13.23% held by the public. With a paid-up capital of Rs. 3,929.80 Crore and an authorized capital of Rs. 7,000 Crore, SJVN boasts a substantial net worth of Rs. 13,821.97 Crore as of March 31, 2023.
Akhileshwar Singh, the Director of Finance at SJVNL Limited, is a pivotal figure in the company’s journey. With 35 years of experience as a pioneering advocate for solar energy, Singh has played a crucial role in SJVN’s success story.
Diverse Portfolio and Green Initiatives
SJVN Limited is primarily engaged in the business of electricity generation and tariff regulation. The company offers a diverse range of products and services, including electricity generation from hydro, wind, and solar sources, consultancy services, and power transmission. Its operations encompass thermal power, hydro power, wind power, solar power, power transmission, consultancy, and power trading.
Recently, SJVN Green Energy secured a Letter of Awards from the Assam Power Development Corporation (APDCL) for three solar power projects, totaling 320 MW in capacity. These projects are expected to generate a cumulative 628 million units in their first year of operation and approximately 14,591 million units over 25 years. With an estimated construction cost of Rs. 1,900 Crores, the projects are scheduled to be commissioned by March 2025. The commissioning of these projects will contribute significantly to reducing carbon emissions by 7.14 lakh tonnes, aligning with the government’s mission to combat climate change.
A Vision for the Future
SJVN Limited has set ambitious goals for the future, driven by its vision to become a globally admired Indian Power Company known for delivering affordable clean power and sustainable value to all stakeholders. With a mission focused on socio-economic growth and optimizing shareholders’ and stakeholders’ interests, SJVN aims to achieve a remarkable milestone: a 50,000 MW installed capacity by 2040.
Akhileshwar Singh emphasized the company’s commitment to aligning with the Honorable Prime Minister’s vision of generating 500 GW from non-fossil sources by 2030. Under the dynamic leadership of Sh. Nand Lal Sharma, SJVN has re-engineered its business model, setting targets of 5,000 MW by 2023, 25,000 MW by 2030, and the ultimate goal of 50,000 MW by 2040.
Investing in the Future
SJVN’s commitment extends to harnessing energy in Uttar Pradesh, with plans to invest around Rs. 30,000 to 35,000 crore in the next 5-6 years. This strategic investment is poised to make a substantial impact on the energy landscape of the state and further propel SJVN’s mission of providing clean and affordable power to the nation.
The Journey of Akhileshwar Singh
Akhileshwar Singh’s journey to becoming the Director of Finance at SJVN Limited is nothing short of inspiring. Starting his career in 1987 with Hindustan Paper Corporation Limited, he joined SJVN in 1993 as a Senior Finance Officer. His remarkable ascent through the ranks, from Assistant Manager to Head of Internal Audit, culminated in his appointment as Director of Finance in 2020. Singh’s dedication, vision, and expertise have been instrumental in shaping SJVN’s trajectory toward sustainable energy and growth.
A Visionary Leader
When asked about his approach as Director of Finance, Akhileshwar Singh cited his study of the growth stories of two major power sector PSUs – NTPC and NHPC. He analyzed their trajectories, examining how NTPC had grown to generate 70,000 MW of power, while NHPC focused on 7,000 MW. Singh probed into the factors, including technological changes and the complexities of developing hydro projects, that impacted the power sector.
He also explored the emergence of storage in solar power, cost competitiveness in various forms of power generation, and crafted a strategic roadmap for SJVN to remain at the forefront of the industry.
As India continues its journey towards sustainable energy and reducing carbon emissions, SJVN Limited, under the stewardship of leaders like Akhileshwar Singh, stands ready to play a pivotal role in shaping a cleaner and brighter future for the nation. With its commitment to innovation and sustainable practices, SJVN is a shining example of India’s progress in the realm of clean and renewable energy.