SJVN Ltd has officially entered into a Memorandum of Understanding (MoU) with the Government of Chhattisgarh and Chhattisgarh State Power Generation Company Ltd (CSPGCL) to collaborate on the development of an 1800 MW Pumped Storage Project (PSP) at Kotpali in Chhattisgarh.
The agreement was signed by Sushil Kumar Sharma, Director (Projects) of SJVN, Subodh Kumar Singh, Principal Secretary of Chhattisgarh’s Energy Department, and Sanjeev Kumar Katiyar, Managing Director of CSPGCL. The signing ceremony was attended by Chhattisgarh Chief Minister Vishnu Dev Sai and Minister of Commerce & Industry Lakhan Lal Dewangan.
The Kotpali PSP is a closed-loop project located in Balrampur District, designed to generate 3967 MU of energy annually. The project aims to store excess energy during off-peak hours and release it during peak demand periods.
SJVN estimates the total investment required for the project to be ₹9,500 crore. The company anticipates that the project will create approximately 5000 job opportunities, both directly and indirectly, during the construction phase.
The shares of SJVN Ltd closed at ₹85.52 on the NSE today, showing a decrease of ₹2.24 or 2.55 per cent.
(Source: The Hindu Business Line, Published on March 10, 2025)
