Introduction:
SJVN Ltd. Noticed a excellent three.83% surge in its stock rate, reaching Rs 108.Sixty five, following the assertion of its Memorandum of Understanding (MoU) with the Government of Bihar. This MoU will pave the way for the improvement of the Hathidah Durgawati pumped garage assignment (PSP) with a capacity of one,000 MW, along side additional PSPs inside the nation.
The Hathidah Durgawati PSP, located in the Durgawati region of Kaimur district, Bihar, is expected to generate significant energy output, with a daily peak energy generation of 6.325 million units (MU) and an annual peak generation of 2,308.65 MU. The project, with an estimated cost of Rs 5,663 crore, will have a levelized tariff of Rs 9.39 per kWh,
based on February 2024 price levels. This ambitious venture is set to boost the energy infrastructure in Bihar, contributing significantly to the region’s power supply and overall economic development.
Beyond its energy generation impact, the Hathidah Durgawati project is also expected to have substantial socio-economic benefits. The development of this and other PSPs in the region will create direct and indirect employment for approximately 5,000 individuals. The total investment in the hydropower sector in Bihar is expected to reach Rs 10,000 crore, signaling a major economic boost for the state.
SJVN Partners with Bihar Government to Develop 1,000 MW Hathidah Durgawati Pumped Storage Project:
SJVN, the state-owned power generation giant, has been tasked with leading the development of these projects in Bihar. The company was appointed as the nodal agency by the Ministry of Power in August 2022. Subsequently, SJVN was allocated several projects in the state,
including the Hathidah Durgawati PSP, which, after careful feasibility studies, emerged as the most viable option with an upgraded capacity of 1,000 MW.
The company’s broader strategy also focuses on diversifying its portfolio, as seen with its recent financial performance. In Q2 FY25, SJVN reported a 23.53% increase in consolidated net profit, reaching Rs 441.14 crore, up from Rs 357.09 crore in Q1 FY25. Revenue from operations also saw an impressive 17.90% rise, reaching Rs 1,026.25 crore.
Conclusion:
SJVN’s latest MoU is part of a larger national strategy to enhance renewable energy capacity and reduce carbon emissions, as the country pushes forward with ambitious power sector reforms. For SJVN,
this collaboration marks a significant milestone in its growth trajectory, expanding its reach in the renewable energy space and bolstering its position as a leader in India’s hydropower sector.
FAQ:
- What is the significance of the MoU signed between SJVN and the Government of Bihar?
- The MoU between SJVN and the Government of Bihar marks the beginning of the development of the Hathidah Durgawati Pumped Storage Project (PSP) and other hydropower projects in the state. This collaboration aims to boost energy infrastructure, create employment opportunities, and bring significant investment to Bihar.
- What is the Hathidah Durgawati Pumped Storage Project?
- The Hathidah Durgawati PSP is a proposed pumped storage facility in Durgawati, Kaimur district, Bihar. With an installed capacity of 1,000 MW (comprising four units of 250 MW each), the project will generate 6.325 million units of peak energy per day and an annual peak energy of 2,308.65 MU.
- How much is the estimated cost of the Hathidah Durgawati PSP?
- The estimated project cost for the Hathidah Durgawati Pumped Storage Project is approximately Rs 5,663 crore.
- What are the employment and investment opportunities associated with this project?
- The development of the Hathidah Durgawati PSP and other proposed PSPs in Bihar will create around 5,000 direct and indirect jobs. The total investment in these projects is expected to be around Rs 10,000 crore, significantly contributing to Bihar’s economic growth.
- What is the expected energy generation capacity of the Hathidah Durgawati PSP?
- The Hathidah Durgawati Pumped Storage Project is designed to generate a daily peak energy of 6.325 million units (MU) and an annual peak energy of 2,308.65 MU, ensuring a substantial addition to Bihar’s power supply.
- How does the pricing structure of the Hathidah Durgawati PSP work?
- The levelized tariff for the Hathidah Durgawati PSP is expected to be Rs 9.39 per kWh, based on February 2024 price levels, assuming a pumping energy rate of Rs 3 per kWh.
- What other projects is SJVN involved in within Bihar?
- In addition to the Hathidah Durgawati PSP, SJVN has been allocated other pumped storage projects in Bihar, such as the Telharkund PSP (400 MW), Sinafdar PSP (345 MW), and Panchgotia PSP (225 MW). These projects aim to enhance the state’s energy capacity.
- What is SJVN’s role in the development of these projects?
- SJVN has been appointed as the nodal agency for developing pumped storage projects in Bihar by the Ministry of Power, Government of India. SJVN is responsible for overseeing the feasibility studies, planning, and execution of these hydropower projects.
- What recent financial results have SJVN reported?
- SJVN reported a 23.53% increase in its consolidated net profit, which reached Rs 441.14 crore in Q2 FY25, compared to Rs 357.09 crore in the previous quarter. The company also saw a 17.90% increase in revenue, which rose to Rs 1,026.25 crore.
- How does this project contribute to India’s renewable energy goals?
- The Hathidah Durgawati PSP and other pumped storage projects are part of India’s broader efforts to increase renewable energy capacity, improve grid stability, and reduce reliance on fossil fuels. The project aligns with the government’s focus on clean and sustainable energy generation.
- How does the pumped storage technology work?
- Pumped storage is a type of hydropower generation that uses two water reservoirs at different elevations. During off-peak hours, excess energy is used to pump water from the lower reservoir to the upper reservoir. During peak demand, the stored water is released to generate electricity, providing a reliable source of peak power.
Disclaimer
The information provided on www.stockpulsdailynews.com is for informational purposes only and does not constitute financial advice. Stock trading is inherently risky, and users agree to assume full responsibility for their trading decisions, including any loss of capital. While we strive for accuracy, we do not guarantee the completeness or reliability of the information presented.
Users should conduct their own research and consult with a qualified financial advisor before making any investment decisions. www.stockpulsdailynews.com disclaims all warranties and is not liable for any damages arising from the use of this website. By using this site, you agree to these terms.
For any question, please contact us