SJVN selected for 2.4-GW pumped-storage project in India

Indian power producer SJVN Ltd (BOM:533206) has been selected for the construction of a pumped-storage hydro (PSH) station in Mizoram which will mark the company’s first project in the northeastern Indian state.

SJVN has received a letter of intent (LoI) from the Government of Mizoram for the allotment of Darzo Lui Pumped Storage Project, it said in a statement on Thursday.

The project will have an on-stream closed loop type pumped storage technology and will be implemented across Darzo Nallah, a tributary of Tuipui River. It will comprise eight units of 300 MW each.

The scheme, a final agreement on which is expected to be inked in the next three months, is estimated to cost about IRN 139.47 billion (USD 1.66bn/EUR 1.53bn). It should be completed within 72 months.

(INR 100 = USD 1.194/EUR 1.099)

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