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HomeMarket NewsStocks NewsSJVN signs MoU with Bihar government for ₹5,663 crore Hathidah Durgawati pumped storage project
Shares of SJVN Ltd ended at ₹104.40, up by ₹0.85, or 0.82% on the BSE.
State-owned power producer SJVNLtd on Tuesday (December 31) said it has signed a Memorandum of Understanding (MoU) with the government of Bihar to develop the 1,000 MW Hathidah Durgawati Pumped Storage Project (PSP).
The project is estimated to cost ₹5,663 crore and will have a levelized tariff of ₹9.39 per kWh, based on February 2024 price levels, assuming a pumping energy rate of ₹3 per kWh. The Pumped Storage Projects development in Bihar will create direct and indirect employment for 5,000 persons and investment of about ₹10,000 crore.
The agreement, signed in Patna, was attended by Bihar’s Deputy Chief Minister Vijay Kumar Sinha, Energy Minister Bijendra Prasad Yadav, Industries Minister Nitish Mishra, and SJVN CMD Raj Kumar Chaudhary, along with other senior officials.
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Proposed on river Durgawati in the Kaimur District of 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.
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), the government of Bihar, allotted four PSPs to SJVN on August 22, 2022, named Telharkund PSP (400 MW), Sinafdar PSP (345 MW), Panchgotia PSP (225 MW) and Hathidah Durgawati PSP (1600 MW).
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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.
Currently, SJVN is developing about 12000 MW of PSPS in various states such as Maharashtra, Karnataka, Mizoram and Himachal Pradesh. Shares of SJVNLtd ended at ₹104.40, up by ₹0.85, or 0.82% on the BSE.
