SJVN share price zooms 6% on inking MoU worth Rs 5,663 cr with Bihar govt

The surge in SJVN share price came after it signed a MoU with Govt of Bihar in Patna for development of 1000 MW Hathidah Durgawati Pumped Storage Project and other PSPs in Bihar

SJVN share price: State-owned Hydroelectric power generation company SJVN shares were buzzing in trade on Wednesday, January 1, 2025, as the stock jumped up to 5.84 per cent to hit an intraday high of Rs 110.50 apiece.

 

The surge in SJVN share price came after it signed a Memorandum of Understanding (MoU) with Govt of Bihar in Patna for development of 1000 MW Hathidah Durgawati Pumped Storage Project and other PSPs in Bihar. 

 

The estimated project cost is Rs 5,663 crore, with a levelised tariff of Rs 9.39 per kWh (assuming a pumping energy rate of Rs 3 per kWh) based on February 2024 price levels. 

 

 

The PSPs development in Bihar will create direct and indirect employment to 5000 persons and investment of about Rs 10,000 crore, SJVN revealed in the statement. 

 

In August 2022, the Ministry of Power, Government of India, appointed SJVN as the nodal agency for developing Pumped Storage Projects (PSPs) in Bihar. 

 

Following this, the Secretary (Energy), Government of Bihar, allotted four PSPs to SJVN on August 22, 2022, named as Telharkund PSP (400 MW), Sinafdar PSP (345 MW), Panchgotia PSP (225 MW) and Hathidah Durgawati PSP (1600 MW). 

 

After conducting ranking studies of these projects, SJVN prepared a Feasibility Study Report (FSR) for the most viable project, Hathidah Durgawati PSP, with a proposed capacity of 1000 MW.

 

Proposed on river Durgawati in the district. Kaimur, Bihar, the Hathidah Durgawati PSP, with an installed capacity of 1000 MW (4x250 MW), is designed to generate a daily peak energy of 6.325 Million Units (MU) and an annual peak energy of 2308.65 MU, SJVN said. 

 

Currently, SJVN is developing about 12,000 MW of PSPs in various states such as Maharashtra, Karnataka, Mizoram and Himachal Pradesh. 

 

About SJVN

 

SJVN Limited, founded in 1988 and headquartered in Shimla, Himachal Pradesh, is an Indian public sector company specialising in power generation. The company manages the entire lifecycle of hydroelectric projects, including design, analysis, operation, planning, development, execution, and maintenance. 

 

While it initially concentrated on hydroelectric power, SJVN has expanded into thermal, solar, and wind energy sectors. It oversees major projects such as the Nathpa Jhakri and Rampur hydro power stations and is actively pursuing numerous new initiatives across India.

 

The market capitalisation of the company is Rs 43,247.40 crore, according to BSE. SJVN falls under the BSE500 category.

 

The 52-week high of SJVN share is Rs 170.45 while the 52-week low is Rs 88.85 apiece.

 

At 10:00 AM, the SJVN share was trading 5.41 per cent higher at Rs 110.05 per share. In comparison, BSE Sensex was trading 0.26 per cent lower at 77,937.35 levels.