SJVN zoomed 8.51% to Rs 152.95 after the company received a letter of intent (LOI) for allotment of Darzo Lui Pumped Storage Project from the Government of Mizoram.
With an installed capacity of 2,400 MW, the aforementioned 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.
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 company said in a statement.
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SJVN is engaged principally engaged in electricity generation. The company is also engaged in the business of providing consultancy.
The company reported 56.04% drop in consolidated net profit to Rs 61.08 crore on 11.12% decline in revenue from operations to Rs 482.91 crore in Q4 FY24 over Q4 FY23.
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