In early trading on Friday, shares of SJVN increased 13.3% to Rs 160 each, after the company announced the acquisition of a significant solar project. SJVN made its first announcement in the state on Thursday, announcing that it had received a Letter of Intent for the Darzo Lui Pumped Storage Project from the Government of Mizoram.
The Pumped Storage Project has been proposed across Darzo Nallah, a tributary of the Tuipui river, with an installed capacity of 2,400 MW.
The project is expected to cost Rs 13,947.50 crore, which includes financing expenses at April 2023 pricing levels as well as interest during construction. The project will be an on-stream closed-loop pumped storage facility with eight 300-megawatt units. It is estimated to generate 4,993.20 million units of electricity per year, anticipating 95% plant availability.
As of 10:52 am, SJVN shares were trading 8.76 % higher at Rs 153.39.
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