SJVN inks MoU of 490MW Arun-4 Hydro Power Project worth Rs4900 crore in Nepal; Stock gains 2%

17 May 2022 , 11:13 AM

SJVN Ltd has informed that a MoU for development of 490 MW Arun-4 project in Nepal has been signed in Lumbini, Nepal on Monday in the august presence of the Honourable Pime Minister of India, Narendra Modi and Honourable Prime Minister of Nepal Sher Bahadur Deuba.

The Project will be developed in JV mode by the Company and Nepal Electricity Authority (NEA) with the company having majority share and is expected to generate around 2100 Million Units of energy per annum. The expected cost of this project situated in Sankhuwasabha District Province — 1 of Nepal is Rs4900 crore.

This is the 3rd project of the Company on Arun River basin. Two other projects, i.e., 900 MW Arun-3 and 669 MW Lower Arun are already being developed by the Company. With signing of this MoU, the Company will have portfolio of three projects in Nepal having total capacity of 2059 MW.

These projects will assist the Company in achieving its ambitious shared vision of 5000 MW by 2023, 25000 MW by 2030 and 50000 MW by 2040 and simultaneously contribute towards RE capacity addition target of 500 GW by 2030 set by Government of India.

At around 10:09 AM, SJVN was trading at Rs27.85 apiece up by Rs0.55 or 2.01% from its previous closing of Rs27.30 apiece on the BSE.