SJVN Stock Up 8% As Government of Mizoram Awards LoA Worth Rs 14,000 Cr

The stocks of SJVN recorded significant gains of more than 8 per cent in the Friday trading session after the firm received letter of allotment (LoA) from Government of Mizoram.

SJVN stock traded at Rs 152 with 8.07 per cent gain in the morning session on the National Stock Exchange (NSE). The year-to-date gains of the PSU also increased to 62 per cent with this rally. 

“Company has received a Letter of Intent for allotment of Darzo Lui pumped storage project from the Government of Mizoram. With an installed capacity of 2,400 MW, the pumped storage project has been proposed across Darzo Nallah, a tributary of Tuipui river,” stated SJVN in an exchange filing. 

The estimated cost of project on completion is Rs 13,947.50 crore including IDC and financing costs at April 2023 price level. This is the first project of the company in the state of Mizoram.

Company further stated that Darzo Lui pumped storage project is an on-stream closed loop type pumped storage project. The project comprises eight units of 300 MW each. 

The annual energy generation with 95 per cent plant availability shall be 4,993.20 MU. The annual input energy required for pumping water to the upper reservoir has been estimated to be 6,331.66 MU with 95 per cent plant availability. 

The project is proposed to be completed within a period of 72 months and the agreement shall be signed within three months between SJVN and Government of Mizoram.