SJVN Signs MoU With Chhattisgarh Government For 1800-MW Project
SJVN Ltd. on Monday said that it has entered into a Memorandum of Understanding with the Chhattisgarh government to develop an 1,800 MW Pumped Storage Project at Kotpali at an investment of Rs 9,500 crore.
According to the company's press release, 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 pact was signed by Sushil Kumar Sharma, director-projects of SJVN; Subodh Kumar Singh, principal secretary, Energy Department of Chhattisgarh; and Sanjeev Kumar Katiyar, managing director of Chhattisgarh State Power Generation Co.
The development 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, according to the statement.
The project has direct and indirect employment potential for 5,000 people during the development phase, it added.
The Kotpali PSP is an off-stream closed-loop type PSP in Balrampur district of Chhattisgarh with an installed capacity of 1,800 MW designed to generate energy of around 3,967 MU.
State chief minister Vishnu Dev Sai and Minister of Commerce & Industry Lakhan Lal Dewangan were present at the event, as were other senior officials from SJVN and the Chhattisgarh government.
Shares of SJVN Ltd. closed 2.32% lower at Rs 85.73 apiece on the BSE, compared to a 0.29% decline in the benchmark Sensex.
-with PTI inputs
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