SJVN Ltd inks MoU with MAHAGENCO for development of 5000 MW renewable energy projects in Maharashtra

SJVN Ltd has signed a Memorandum of Understanding ("MoU") with Maharashtra State Power Generation Company ("MAHAGENCO") for development of 5,000 MW Renewable Energy Projects in the state of Maharashtra.

The MoU has been signed to explore the feasibility of setting up various renewable projects in Maharashtra, which includes Hydro, Pumped Storage, Wind, Solar, Hybrid and Green Hydrogen Projects. Further, the Company & MAHAGENCO will jointly participate in tenders floated by Government of Maharashtra for renovation and modernization of small Hydro Power stations which are operated and maintained by MAHAGENCO.

With signing of this MoU, the Company now has a project portfolio of 54,065 MW, with 2,091.5 MW under operation, while rest is in various stages of development and is marching ahead to achieve the Shared Vision of 5,000 MW by 2023-24, 25,000 MW by 2030 & 50,000 MW capacity by 2040.

Shares of SJVN Limited was last trading in BSE at Rs. 38.43 as compared to the previous close of Rs. 38.35. The total number of shares traded during the day was 871571 in over 2133 trades.

The stock hit an intraday high of Rs. 38.85 and intraday low of 38.27. The net turnover during the day was Rs. 33602754.00.

Source : Equity Bulls

Keywords

SJVN INE002L01015 MoU MAHAGENCO 5000MW RenewableEnergyProjects Maharashtra