SJVN has signed a Memorandum of Understanding (MoU) with the Government of Chhattisgarh and Chhattisgarh State Power Generation Company Limited (CSPGCL) for the development of 1800 MW Pumped Storage Project (PSP) at Kotpali in the state of Chhattisgarh. The signing of this MoU marks a significant step in enhancing India's energy security and supporting the transition to a clean and sustainable power sector.
The MoU was signed by Shri Sushil Kumar Sharma, Director (Projects), SJVN, Shri Subodh Kumar Singh, Principal Secretary, Energy Department of Chhattisgarh and Shri Sanjeev Kumar Katiyar, Managing Director, CSPGCL. The MoU was signed in the presence of distinguished dignitaries, including Shri Vishnu Dev Sai, Hon'ble Chief Minister of Chhattisgarh, Shri Lakhan Lal Dewangan, Hon'ble Minister of Commerce & Industry and senior officials from both SJVN and the Chhattisgarh Government.
With increasing reliance on renewable energy sources like solar and wind, PSPs play a pivotal role in ensuring uninterrupted power supply by storing excess energy during non-peak hours and discharging it during peak demand. This significant initiative will not only boost the renewable energy capacity of the region but also provide a major boost to employment, investment, and overall economic development in Chhattisgarh.
Total investment for the project is estimated at ?9500 Crore, with direct and indirect employment benefits expected for 5000 people during its development phase.
The Kotpali PSP is a off stream closed loop type PSP in Balrampur District of Chhattisgarh with an installed capacity of 1800 MW designed to generate energy around 3967 MU.
Shares of SJVN Limited was last trading in BSE at Rs. 87.77 as compared to the previous close of Rs. 87.35. The total number of shares traded during the day was 661868 in over 2611 trades.
The stock hit an intraday high of Rs. 89.38 and intraday low of 86.88. The net turnover during the day was Rs. 58308022.00. |
