NHPC chairman Raj Kumar Chaudhary gets additional charge of SJVN CMD
- The appointment comes at a time when SJVN is expanding its portfolio
- Chaudhary has held several posts in NHPC including that of director (technical), before being finally taking over as CMD on 7 August 2024
New Delhi: State-run hydro power major NHPC Ltd’s chairman and managing director (CMD) Raj Kumar Chaudhary has been given additional charge of SJVN Ltd, another government-owned hydro power utility, as its CMD.
SJVN Ltd, a Navratna central public sector enterprise (CPSE), is a joint venture of the Union government and the government of Himachal Pradesh. The Centre holds 55% stake in SJVN, with the state government owning 26.85% and the rest 18.15% with public.
The appointment comes at a time when SJVN is expanding its portfolio. On 21 November, it signed a memorandum of understanding (MoU) with the government of Rajasthan to develop 5GW pumped storage projects and 2GW floating solar projects in the state.
As of 31 March 2024, the project portfolio of SJVN and its associate companies stood at 89 projects aggregating 56.80 MW and three transmission lines totalling 340 km.
“A seasoned professional, Chaudhary has over 35 years of rich and vast experience in the power sector and hydropower development. He possesses expertise and deep knowledge in all aspects of development of a hydro project from concept to commissioning and has contributed in development of hydropower in India and Bhutan,” said a company statement.
Also read: NHPC to raise ₹2,300 crore to fund its expansion
Chaudhary is a graduate in civil engineering from BIT Sindri and has an advanced diploma in management. He joined NHPC in 1989 as a probationary executive (civil) at Koel Karo HE Project, Jharkhand.
He has held several posts in NHPC including that of director (technical), before being finally taking over as CMD on 7 August 2024. Chaudhary has also served as director (technical) in Mangdechhu & Punatsangchhu-II HE projects in Bhutan.
SJVN portfolio
In FY24, SJVN bagged 16 renewable projects totalling 4,490 MW. As a part of its expansion strategy, the company has signed a series of MoUs with various government and non-government agencies in areas like renewable energy development, project financing, power trading, development of solar parks, new technologies, green energy, and technical consultancy, among others, according to its annual report for FY24.
For the September quarter of FY25, SJVN reported a marginal rise in its consolidated net profit at ₹441 crore from ₹439.6 crore in the corresponding period of the previous fiscal. Its total income increased 16.8% year-on-year to ₹1,026 crore in Q2FY25 from ₹878.4 crore in Q2FY24.
On the other hand, NHPC recorded a 37% decline in its consolidated net profit in the July-September quarter of this fiscal to ₹1,069.28 crore from ₹1,693.26 crore in the year-ago period. Its total income increased about 9% to ₹3,402.09 crore from ₹3,113.82 crore in the second quarter of FY24.
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First Published:28 Nov 2024, 10:23 PM IST
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