India's SJVN targets generation of 7,000 MU for FY 2012-13

SJVN hopes to fulfill its ambitious plan of generating 7,000 MU with its MoU with the power ministry for financial year 2012-13.

The state-run power utility has an expected revenue realization of Rs 1,557 crore during the forthcoming period from its 1,500 MW Nathpa Jhakri hydro power station.

The MoU includes targets of construction of SJVN's MW Rampur hydro-electric plant. A major milestone for the 412 MW HEP, which is heading for completion by September 2013, will be boxing up of unit I and II of the project among other electro-mechanical works in its power house.

In addition, the MoU also encompasses targets for the 775 MW Luhri HEP, 66 MW Dhaulasidh HEP located in Himachal Pradesh and the 252 MW Devsari and 60 MW Naitwar More HEPs in Uttarakhand.

The power ministry will support the company in obtaining speedy clearances for its projects from the concerned authorities along with helping SJVN bag more projects. MoP will also provide necessary help to the power utility for full and timely realization of its financial dues from various beneficiaries including bulk consumers and state electricity boards.

According to the MoU, SJVN has been given a target of spending 2.5% of its profit after tax on CSR, research and development and sustainable development which means an expenditure of Rs 25 crore in FY13.