SJVN, NHPC Get Fresh Push with Navratna Status, Leadership Shakeup, and Big Expansion Plans
New Delhi/Shimla, March 21 — Public sector energy giants SJVN Limited and NHPC Limited are back in the spotlight with major developments signaling a fresh push in India’s power sector. From a new leadership shuffle to aggressive fundraising plans, both CPSUs are gearing up to fast-track hydro and renewable energy projects, especially in the Himalayan belt.
Raj Kumar Chaudhary to Lead SJVN Along with NHPC
In a significant move, Raj Kumar Chaudhary, current Chairman and Managing Director (CMD) of NHPC, has been handed the additional charge of CMD, SJVN. With over 35 years of experience in hydropower, including mega projects in Bhutan, Chaudhary’s dual role is being seen as a strategy to synergize operations and push big-ticket projects stalled due to state-level policy hurdles, especially in Himachal Pradesh.
Centre Grants 'Navratna' Status — More Power to the Power Giants
The government has also granted ‘Navratna’ status to both SJVN and NHPC — a move that gives these companies greater financial and operational autonomy. The tag enables the PSUs to invest up to ₹1,000 crore in projects without prior government approval, paving the way for faster expansion in renewables, solar, and hydropower sectors. Solar Energy Corporation of India (SECI) also bagged the Navratna status in this round.
NHPC Ramps Up Expansion, Eyes ₹6,300 Crore Borrowing
NHPC is not slowing down. The company has cleared plans to raise a whopping ₹6,300 crore in debt in 2025-26 through bonds, term loans, or foreign borrowings. The funds are aimed at accelerating stalled projects and new investments across hydropower, renewable energy, and infrastructure upgrades.
On the tech front, NHPC has inked a strategic pact with RailTel to strengthen its digital backbone, which officials say will help in better monitoring and management of hydropower stations, especially in tough terrains.
SJVN Posts 7% Profit Jump, Announces Interim Dividend
Meanwhile, SJVN reported a 7% rise in net profit for the third quarter, touching ₹149 crore, though sequentially, profits dipped by 66%. Revenue, however, surged by 23% to ₹671 crore. Backing investor confidence, the PSU declared an interim dividend of ₹1.15 per share.
Himachal Proposals Still on Boil
Interestingly, the developments come as SJVN is facing tough negotiations with the Himachal Pradesh government over royalty and water usage policies. With Chaudhary now at the helm of both SJVN and NHPC, insiders say the Centre might push for a smoother resolution to the ongoing standoff with the Sukhu government over key hydro projects like Luhri, Sunni, and Dhaulasidh.
Market Analysts Advise Hold
Market analysts have given a ‘Hold’ call on both SJVN and NHPC, betting on their strong fundamentals and the boost from Navratna status. Analysts believe the leadership consolidation and financial muscle could give the two PSUs an edge in upcoming green energy missions.
The Road Ahead
With the government’s energy ambitions soaring, both SJVN and NHPC are expected to play a critical role in powering India’s transition to cleaner energy. Whether it’s resolving disputes with state governments or ramping up investments, all eyes are now on how the twin PSUs leverage their new powers.
