On January 1, 2025, SJVN share price surged over 7% following the company’s announcement of a Memorandum of Understanding (MoU) with the Government of Bihar. SJVN share price opened at ₹107.20 and reached a day high of ₹111.95 by 10:10 AM.
The MoU, signed in Patna, outlines plans for the development of the 1,000 MW Hathidah Durgawati Pumped Storage Project (PSP) and other PSPs in Bihar. The total estimated cost of the project is ₹5,663 crore, with a levelized tariff of ₹9.39 per kWh, assuming a pumping energy rate of ₹3 per kWh based on February 2024 price levels.
The development of PSPs in Bihar is expected to generate significant economic benefits. According to SJVN, the project will create both direct and indirect employment for around 5,000 people and attract an investment of approximately ₹10,000 crore.
In August 2022, the Ministry of Power, Government of India, appointed SJVN as the nodal agency for the development of Pumped Storage Projects (PSPs) in Bihar. Subsequently, the Secretary (Energy) of the Government of Bihar allocated four PSPs to SJVN on August 22, 2022. These included the Telharkund PSP (400 MW), Sinafdar PSP (345 MW), Panchgotia PSP (225 MW), and Hathidah Durgawati PSP (1,600 MW).
After conducting ranking studies, SJVN identified the Hathidah Durgawati PSP as the most viable project. The Feasibility Study Report (FSR) proposes an installed capacity of 1,000 MW (4×250 MW) for this project. Located on the Durgawati River in the Kaimur district of Bihar, the project is expected to generate a daily peak energy output of 6.325 million units (MU) and an annual peak energy output of 2,308.65 MU.
Currently, SJVN is involved in the development of around 12,000 MW of PSPs across various states, including Maharashtra, Karnataka, Mizoram, and Himachal Pradesh.
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Published on: Jan 1, 2025, 10:20 AM IST
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