SJVN Limited said on Monday that it had entered a memorandum with the Government of Chhattisgarh to develop a 1,800 MW pump storage project in Kotpali on an investment of Rs 9,500 crore.
According to the company’s press release, the signing of this MoU is an important step in increasing India’s energy security and supporting infection in a clean and sustainable power sector.
The treaty was signed by SJVN director-projects Sushil Kumar Sharma; Subodh Kumar Singh, Principal Secretary, Energy Department of Chhattisgarh; And Sanjeev Kumar Katyar, Managing Director of Chhattisgarh State Electricity Generation Company.
According to the statement, development will not only promote the renewable energy capacity of the region, but will also give a big boost to employment, investment and overall economic development in Chhattisgarh.
The project has a direct and indirect employment capacity for 5,000 people during the development phase.
Kotpali PSP is an off-stream close-loop type PSP in Balrampur district of Chhattisgarh, which has an installed capacity of 1,800 MW designed to generate about 3,967 MU energy.
State Chief Minister Vishnu Dev Sai and Commerce and Industry Minister Lakhan Lal Diwangan were present at the event as SJVN and other senior officials of the Government of Chhattisgarh were present.
SJVN Limited’s shares were reduced by 2.32% to Rs 85.73 on BSE, while the benchmark sense fell by 0.29%.
-With inputs
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