SJVN shines bright

SJVN had some good news to share – it has signed a MoU with Maharashtra State Power Generation Company (“MAHAGENCO”) for development of 5,000 MW Renewable Energy Projects in the state of Maharashtra.

The MoU has been signed to explore the feasibility of setting up various renewable projects in Maharashtra, which includes Hydro, Pumped Storage, Wind, Solar, Hybrid and Green Hydrogen Projects.

Further, the Company & MAHAGENCO will jointly participate in tenders floated by Government of Maharashtra for renovation and modernization of small Hydro Power stations which are operated and maintained by MAHAGENCO.

After this MoU, SJVN now has a project portfolio of 54,065 MW, with 2,091.5 MW under operation, while rest is in various stages of development and is marching ahead to achieve the Shared Vision of 5,000 MW by 2023-24, 25,000 MW by 2030 & 50,000 MW capacity by 2040.

The stock is in the green; from its close of yesterday at Rs.38.43, the stock opened today at Rs.39 and rose to an intraday high at Rs.40.64. Its 52-week high is at Rs.42.25.