SJVN signs MoU of 490 MW Arun 4 Hydro Power Project in Nepal

An MoU for development of 490 MW Arun-4 project in Nepal has been signed in Lumbini, Nepal today in the august presence of the Honourable Pime Minister of India, Shri Narendra Modi and Honourable Prime Minister of Nepal Shri Sher Bahadur Deuba.

The Project will be developed in JV mode by the Company and Nepal Electricity Authority (NEA) with the company having majority share and is expected to generate around 2100 Million Units of energy per annum. The expected cost of this project situated in Sankhuwasabha District Province - 1 of Nepal is Rs.4900 Crores. This is the 3rd project of the Company on Arun River basin. Two other projects, i.e., 900 MW Arun-3 and 669 MW Lower Arun are already being developed by the Company. With signing of this MoU, the Company will have portfolio of three projects in Nepal having total capacity of 2059 MW.

These projects will assist the Company in achieving its ambitious shared vision of 5000 MW by 2023, 25000 MW by 2030 and 50000 MW by 2040 and simultaneously contribute towards RE capacity addition target of 500 GW by 2030 set by Government of India.

Shares of SJVN Limited was last trading in BSE at Rs. 27.30 as compared to the previous close of Rs. 27.30. The total number of shares traded during the day was 342858 in over 646 trades.

The stock hit an intraday high of Rs. 27.45 and intraday low of 27.05. The net turnover during the day was Rs. 9319345.00.

Source : Equity Bulls

Keywords

SJVN INE002L01015 MoU HydroPowerProject Nepal