Rs 50,000 crore project: This multibagger power generation company signed an agreement for five hydropower projects of 5097 MW!

Shares of the company grew by more than 70 per cent in the last six months.

On August 12, 2023, SJVN Limited informed in the exchange filing that a Memorandum of Agreement (MoA) was signed between the company and the Government of Arunachal Pradesh for executing five hydropower projects of 5097 MW. The MoA was signed in August in the presence of Hon’ble Union Power Minister Sh. R.K Singh and Hon’ble Chief Minister of Arunachal Pradesh Sh. Pema Khandu.

These five projects are 3097 MW Etalin, 680 MW Attunli, 500 MW Emini, 420 MW Amulin, and 400 MW Mihumdon. Further, 3097 MW Etalin HEP is the largest hydro project under development in India. The construction of these projects shall involve a total investment of around Rs 50,000 crores and would add over 20,652 million units of electricity generation annually to the nation’s capacity.

Earlier, the company’s wholly-owned subsidiary, SJVN Green Energy Limited (SGEL) received the letter of Intent (LOI) from Punjab State Power Corporation Limited (PSPCL) for procurement of 1200 MW Solar Power. The tentative cost of construction and development of the 1200 MW project is around Rs 7,000 crore.

SJVN is engaged in the business of electricity generation. The company is also engaged in the business of providing consultancy for hydropower projects.

The shares of the company have gained about 145 per cent in the last three years and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.