SJVN soars 13% after ₹13,500 crore order from Mizoram government

Confirming the development in an exchange filing, the company said that the Darzo Lui Pumped Storage Project, with an installed capacity of 2,400 MW, is proposed to be developed across Darzo Nallah, a tributary of the Tuipui River.

The estimated completion cost of the project is ₹13,947.50 crores, which includes interest during construction (IDC) and financing costs at April 2023 price levels.

This will be SJVN’s first project in Mizoram.

The Darzo Lui Pumped Storage Project is an on-stream closed loop type pumped storage facility. It features eight units, each with a capacity of 300 MW, totalling 2,400 MW.

The annual energy generation with 95% plant availability will be 4,993.20 MU (million units). The estimated annual energy required for pumping water to the upper reservoir is 6,331.66 MU, also based on 95% plant availability.

The project is slated to be completed within 72 months.

The agreement between SJVN Ltd and the Mizoram government will be inked within the next three months.

At 2:05 pm, SJVN shares traded 7.49% higher at ₹151.60 after minor corrections from the day's peak.

Earlier this month, SJVN Ltd appointed Arindam Chaudhary, special secretary (power) of the Himachal Pradesh government, as a part-time official director.

Mohd Afzal, joint secretary (hydro) from the Ministry of Power, Government of India, was appointed part-time official director.

SJVN, earlier known as Satluj Jal Vidyut Nigam, is a Public Sector Undertaking (PSU), incorporated as a joint venture of the Government of India and the Himachal Pradesh government.