Three government-owned renewable energy agencies, Solar Energy Corporation of India, SJVN, and NHPC, have been conferred ‘Navratna’ status by the government, which gives them more financial and operational autonomy. Navratna companies can invest up to ₹10 billion (~$117 million) without seeking approval from the Union government. They can also invest up to 15% of their net worth on a single project or 30% in a year, capped at ₹10 billion (~$117 million). These companies can also go for capital expenditure without monetary caps and enter into strategic alliances or technology joint ventures.