SJVN Shares Jump on Bihar MoU

1 Jan 2025 , 11:54 AM

Following the signing of a Memorandum of Understanding (MoU) with the Bihar government to develop the 1,000 MW Hathidah Durgawati Pumped Storage Project (PSP), shares of the state-owned power producer SJVN surged up to 3% to Rs 108 on the BSE on Wednesday.

Based on February 2024 price levels and assuming a pumping energy rate of Rs 3 per kWh, the project is expected to cost Rs 5,663 crore and have a levelized tariff of Rs 9.39 per kWh. An estimated Rs 10,000 crore would be invested in the Pumped Storage Projects development in Bihar, which will directly and indirectly employ 5,000 people.

The Hathidah Durgawati PSP, which is proposed on the Durgawati River in the Kaimur District of Bihar, has an installed capacity of 1000 MW (4×250 MW) and is intended to produce 6.325 MU of peak energy per day and 2308.65 MU of peak energy per year.

SJVN was designated as the nodal agency for the development of Pumped Storage Projects (PSPs) in Bihar by the Ministry of Power, Government of India, in August 2022.

On August 22, 2022, the Bihar government’s Secretary of Energy awarded SJVN four PSPs: the 400 MW Telharkund PSP, the 345 MW Sinafdar PSP, the 225 MW Panchgotia PSP, and the 1600 MW Hathidah Durgawati PSP.

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