SJVN Signs MOU With Chhattisgarh State Govt To Build 1800 Mw Psp

SJVN has decided to build a Pumped Energy Storage Project of 1800 MW in Kotpali, Chattisgarh. For this, it has signed an MoU with the state government and the state-level power generation company. This strategic partnership underlines its commitment to expediting India’s energy transition and improving electricity supply to rural areas. 

The project is estimated to be worth ₹9500 crore. It will create indirect and direct job opportunities for 5000 people during its commissioning phase. The Kotpali PSP will be constructed as an off-stream closed loop PSP situated in the Balrampur district of Chhattisgarh. It will generate energy of 3967 MW annually. 

SJVN Enhances Coal Capacity: Expansion of Buxar Plant

SJVN is a renowned central public center enterprise recognised as a Navratna by the central government. It is currently developing a coal-fired electricity production plant in Buxar, Bihar. It further aims to build an additional capacity of 800 MW, apart from the 1,320 MW already under construction. 

India’s peak electricity demand has witnessed record-breaking growth and reached 250 GW in 2024. As per the power ministry, electricity demand is expected to increase to 384 GW by 2032. This has necessitated the development of coal-fired power plants for electricity production. 

SJVN Financial Performance in Q3 of FY 2024-25

Based on industry reports, SJVN’s consolidated net profits fell to ₹149.03 crore, thereby recording a 66.2% decline in Q3 of FY 2024-25. It also reported a 34.6% QoQ decline in its revenue from operations, which fell to ₹670.99 in December 2024. 

As of 3.30 PM on March 10, SJVN share price closed at ₹85.52, a decline of 2.55% from the previous price. 

Conclusion

SJVN’s strategic growth moves are designed to meet India’s rising energy demands. Its partnership with the state government of Chhattisgarh and the state power company solidifies the power of India’s public-sector partnerships to fuel its energy transition. The Kotpali PSP is expected to emerge as a landmark project and contribute to the national energy security needs.

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