Union Minister Shri Manohar Lal Felicitates CMDs of NHPC and SJVNL on attainment of ‘Navratna’ Status
In Short : Union Minister Shri Manohar Lal honored the CMDs of NHPC and SJVN for achieving the prestigious ‘Navratna’ status. This accolade recognizes their exceptional financial performance and operational autonomy. The ‘Navratna’ status enables these public sector enterprises to expand operations and investments, furthering India’s energy security and sustainable development, especially in hydropower and renewable energy sectors.
In Detail : Union Minister for Power and Housing & Urban Affairs, Shri Manohar Lal, today felicitated the CMDs of NHPC and SJVNL on the prestigious achievement of being conferred with ‘Navratna’ status by the Government of India.
This honor, as per the order issued by the Department of Public Enterprises (Ministry of Finance) on 30.08.2024, grants these leading hydro power Central Public Sector Undertakings (CPSUs) greater operational and financial autonomy.
Shri Manohar Lal, praised this development as a historic milestone for both the PSUs and encouraged them to continue to aspire for greater achievements in future. He remarked, “This is a significant moment for the country as the hydro CPSUs like NHPC and SJVNL are playing pivotal role in harnessing the hydro power potential leading to powering the country by limiting greenhouse gases or other pollutants.
The Navratna status will empower NHPC and SJVNL with faster decision-making, increased efficiency, and greater empowerment. This status supports major capital expenditure (CAPEX) decisions and investment plans, propelling growth, expanding market reach, and achieving long-term gains.
With the newly conferred powers, NHPC and SJVNL will have autonomy to establish joint ventures in overseas, access new markets and leverage local expertise. Furthermore, it will foster innovation through technological alliances, strengthen market positioning, and facilitate mergers and acquisitions, leading to growth with an increased market share.
Currently, NHPC and SJVNL have total installed capacity of 7144 MW and 2467 MW respectively. These companies are presently engaged in the construction of projects aggregating to 10443 MW by NHPC and 4836 MW by SJVNL.
