SJVN held a conference call on May 30, 2025, to discuss financial results for the quarter and year ended March 31, 2025.
On May 22, 2025, the foundation stone was laid for the 100 MW Nava Solar Power project in Bikaner, Rajasthan, expected to generate around 254 million units in its first year, supplying power to Rajasthan Distribution Company at ₹2.62 per unit.
Commercial operation of 320 MW capacity of the 1,000 MW Bikaner Solar Power project has been achieved, with the second phase (78 MW) commissioned on May 15, 2025. The remaining capacity will be commissioned by October 2025.
An MOU was signed with the Government of Chhattisgarh on March 10, 2025, for the development of a closed-loop pump storage plant in Balram district, expected to generate around 3,959 million units annually.
PPAs have been signed with Damodar Valley Corporation for the entire 210 MW of the Luhri Hydroelectric Project, 115 MW out of 382 MW from Sunni Dam, and 200 MW out of 900 MW from Arun-3 HEP.
Steam blowing for Unit 1 (660 MW) of the Buxar Thermal Plant was completed in January 2025, with commercial operation expected by July 15, 2025. This plant is projected to generate around 9,828 million units per annum, with 85% of the power supplied to Bihar.
Electromechanical activities have commenced for Unit 2 of the 900 MW Arun-3 Hydro Electric Project in Nepal.
The 1,500 MW Nathpa Jhakri Hydro Power Station generated 7,421.45 million units, up from 6,311.80 million units in FY24.
Rampur Hydroelectric Power Station (400 MW) generated 2,074 million units, up from 1,778 million units in the previous year.
Total generation from all power plants was 10,647 million units, compared to 8,489 million units in FY24, an increase of 25.44% year-over-year.
SJVN currently has 13 operational projects with a combined capacity of 2,786.5 MW, along with 2 transmission lines.
Currently constructing 4 hydro projects (1,558 MW), 1 thermal power project (1,320 MW), and 11 solar projects (1,773 MW), bringing the under-construction project portfolio to 4,601 MW.
SJVN has been selected to play a pivotal role in the PM Surya Ghar Muft Bijli Yojana, aiming to provide free electricity to 1 crore households across India, and is responsible for installing rooftop solar systems on government buildings covering 18 ministries.
SJVN has floated tenders for a total of 7.5 GW and issued letters of award for 2.4 GW. Cumulatively, tenders have been floated for 18.6 GW, alloys have been issued against 13.748 GW, and power sale and purchase agreements have been signed for 5.188 GW.
Nathpa Jhakri project received the CBIP award for the best-maintained project in the hydro sector on March 22, 2025.
Regarding the Sunni project court case with the Himachal Pradesh government, SJVN will be reimbursed for all costs incurred with interest if the government takes over the project.
The company reported an impairment loss of ₹143 crore.
Capex for FY25 was around ₹7,800 crore, with targets of ₹8,300 crore for FY26 and ₹12,000 crore for FY27.
Capacity addition target for FY26 is 4,995 MW, including 1,320 MW from the Buxar thermal power plant and 3,675 MW from renewable energy.
Incentive income for Q4 FY25 was ₹115 crore.
The company has spent around ₹800 crore on the Italian hydroelectric project, in addition to ₹270 crore paid to the state government for land acquisition (1100 hectares).
Management expects to commission approximately 2,500 MW of capacity by December, including thermal and solar projects.