SJVN up 13.5%

SJVN received a Letter of Intent for allotment of Darzo Lui Pumped Storage Project from the Government of Mizoram.

With an installed capacity of 2,400 MW, the Pumped Storage Project has been proposed across Darzo Nallah, a tributary of Tuipui river.

The estimated cost of project on completion is Rs 13,947.50 crore, including IDC & Financing costs at April 2023 Price Level. This is the first project of the company in the state of Mizoram. It is further informed that Darzo Lui Pumped Storage Project is an On-stream Closed Loop Type pumped storage project.

The project comprises of eight units of 300 MW each. The annual energy generation with 95% plant availability shall be 4,993.20 MU. The annual input energy required for pumping water to upper reservoir has been estimated to be 6,331.66 MU with 95% plant availability.

The project is proposed to be complete within a period of 72 months.

The agreement shall be signed within three months between SJVN and Government of Mizoram.

The market is happy with this news and the stock price rose, opening 11.5% higher at Rs.156.75, rising further to Rs.159.60, up 13.5%. Its 52-week high is at Rs.170.45.