New Delhi, Jan 11 ( PTI) State-owned SJVN Ltd on Tuesday said it will start power trading following the grant of a licence in this regard to it by the Central Electricity Regulatory Commission (CERC).
“Central Electricity Regulatory Commission (CERC) has granted a trading licence to SJVN Ltd for the inter-state trading of electricity. The Commission said SJVN meets the requirements of the Act and the Trading License Regulations for the grant of an inter-state trading licence,” the company said in a statement.
SJVN Chairman and Managing Director Nand Lal Sharma said in the statement that by the grant of the trading licence, another feather has been added to SJVN’s cap, giving a big boost to its business.
The company will now trade electricity generated by any public and private generating companies, including firms like SJVN Arun-3 Power Development Company (SAPDC), SJVN Thermal Pvt Ltd (STPL) and other upcoming subsidiaries in the renewable sector, Sharma said.
Sharma stated that efficient execution of electricity trading in a competitive environment will ultimately benefit consumers in the spirit of the open-access regime brought about by the Electricity Act, 2003, and the subsequent CERC and SERC regulations.
He further said that SJVN aims to be a one-stop source for any generator and consumer wanting to trade power in the country and contribute to the evolution of a robust and competitive electricity market in India.
The CMD added that SJVN has adequate infrastructure, with state-of-the-art communication facilities and qualified and experienced staff for this task.
SJVN has an energetic core business team with an enormous knowledge of the power sector related to renewable and non-renewable energy and trading thereof.
Sharma further said SJVN will focus on fulfilling power supply deficiencies across various states while also addressing seasonal and regional variance of demand and supply.
SJVN will also consolidate the power of small and medium power generators and trade it into bulk power consumers.
While SJVN currently has the requisite infrastructure and personnel to carry out trading activities efficiently, all incremental support systems, manpower and infrastructure requirements will be dealt with as per the need.
The company aims to commence intra-state trading operations in India by tying up contracts to the extent of 900-megawatt (MW) round-the-clock.
Sharma informed that SJVN has a strong portfolio of 41 projects of 16,432 MW capacity and has already bagged 1,670 MW solar power capacity through a competitive bidding process.
Many more projects in the renewable sector are underbidding process, he said. PTI KKS HRS hrs
source: PTI News