300% rally in five years! SJVN inks MoU for developing 1800 MW project in Chhattisgarh
Live MintStock market today: Shares of power generation firm SJVN declined in trade on Monday, March 10, amid weak sentiments on Dalal Street, even as the company signed a memorandum of understanding with the government of Chattisgarh to develop 1800 MW Kotpali PSP. SJVN MoU Details The public sector undertaking, in an exchange filing today, said, "SJVN has signed a Memorandum of Understanding with the Government of Chhattisgarh and Chhattisgarh State Power Generation Company Limited for the development of 1800 MW Pumped Storage Project at Kotpali in the state of Chhattisgarh." The Kotpali PSP is an off-stream closed-loop type PSP in the Balrampur District of Chhattisgarh with an installed capacity of 1800 MW designed to generate energy around 3967 MU. With increasing reliance on renewable energy sources like solar and wind, PSPs play a pivotal role in ensuring an uninterrupted power supply by storing excess energy during non-peak hours and discharging it during peak demand.
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