SJVN · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Despite winning tenders for 13.74 GW and issuing LOAs, only 3.74 GW has signed PSAs/PPAs. Grid connectivity issues, transmission line shortages, and Supreme Court-related matters are blocking project commissioning, particularly in Rajasthan and Gujarat.
Stakeholder consultations underway with Ministry of Power, MNRE, and bidders on ~9-10 GW of awarded capacity awaiting PPA signing. Rebidding possibility remains; clarity expected in 2-3 months.
Nathpa Jhakri and Rampur plants faced shutdowns due to high silt and flood conditions in Himachal Pradesh, impacting plant availability factor and reducing capacity/energy charges by estimated INR 50-60 crore. This is recurring weather-related risk.
Loss of Section 80-IA exemption (INR 52 crore impact) for a project that completed 10 years. Finance costs increased ~INR 50 crore YoY as projects move from CWIP to commissioned assets with associated debt servicing.
