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SJVN’s Survival in India’s Competitive Energy Market: Diversify or Consolidate?
Prashant Salwan
Indian Institute of Management Indore, India
Shailesh Pandey
Jaipuria Institute of Management Indore, India
Volume 20: 2025, pp. 693-708; ABSTRACT
On a humid May 2024 afternoon in New Delhi, Sushil Sharma, Managing Director of SJVN, a public sector undertaking, met senior officials and investors at the Ministry of Power’s South Block office. A confidential memo lay on the table, urging SJVN to either double down on hydropower or leap into a diversified, ESG-aligned energy future. As heated voices debated failed international bids and rising regulatory pressure, Sharma knew that the next move could either catapult the state-owned enterprise (SOE), into global relevance or trap it in bureaucratic stagnation. His mind raced with questions: Could the company stay true to its public mandate while competing with private giants? Was consolidation a safer bet or was diversification a necessary disruption?
Keywords: renewable energy, hydropower, state-owned enterprises, energy transition, India, strategic transformation, public vs. private.
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