New Delhi: SJVN's stock price increased by 13.3 pc to Rs 160 per share in the morning on Friday, after the company revealed its acquisition of a significant solar project. SJVN announced on Thursday that it had been given a Letter of Intent by the Government of Mizoram for the Darzo Lui Pumped Storage Project, its initial undertaking in the state.
The Pumped Storage Project has been suggested for Darzo Nallah, a tributary of Tuipui river, with a capacity of 2,400 MW. The projected expenditure for the project is Rs 13,947.50 crore, inclusive of interest during construction and financing expenses at April 2023 price levels. The plan is for an on-stream closed-loop pumped storage facility with eight units of 300 megawatts each, projected to produce 4,993.20 million units of energy every year, with a plant availability of 95 pc.
According to the company's exchange filing, it is estimated that 6,331.66 million units of energy will be needed annually to pump water to the upper reservoir, with the project expected to be finished within 72 months. Pursuant to the agreement, SGEL will supply 4.5 GW of renewable energy to assist AM Green's green ammonia production plants. The project will consist of three phases, with the first phase aiming to generate 1,500 MW in a span of two years.
AM Green Ammonia Holdings, supported by Mahesh Kolli and Anil Kumar Chalamalasetty of Greenko Group, is constructing one of the biggest green ammonia production plants in the world. The plant will begin producing one million tonnes per year (MTPA) of green ammonia, with plans to reach five MTPA by 2030. Five million tonnes of green ammonia has a similar value to roughly one million tonnes of green hydrogen.
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