SJVN Share Price Surge 5% on MoU with Rajasthan Government

On November 22, 2024, SJVN share price rose by up to 5.02%, reaching an intraday high of ₹ 108.70 per share. The surge in the stock price followed the company’s announcement of a significant partnership with the Energy Department of the Government of Rajasthan.

Signed MoU for Renewable Energy Development

SJVN’s share price rally came after the company disclosed that it had signed a Memorandum of Understanding (MoU) with the Energy Department of the Rajasthan government. The agreement outlines SJVN’s role in leading the development of renewable energy initiatives within the state.

In an official filing, SJVN stated: “The Company has signed a Memorandum of Understanding (MoU) with the Energy Department, Government of Rajasthan to spearhead the development of renewable energy in the state.”

Renewable Energy Projects Under the MoU

As part of the MoU, SJVN has committed to developing 5 GW of pumped storage projects and 2 GW of floating solar projects in Rajasthan. The collaboration is designed for long-term growth and aims to significantly boost renewable energy generation in the region.

About SJVN Ltd

SJVN Limited, established in 1988 and headquartered in Shimla, Himachal Pradesh, is a public sector enterprise specializing in power generation. The company manages the complete lifecycle of hydroelectric projects, including design, planning, development, execution, operation, and maintenance.

Originally focused on hydroelectric power, SJVN has since expanded its portfolio to include thermal, solar, and wind energy projects. It oversees major operations such as the Nathpa Jhakri and Rampur hydro power stations and is actively pursuing a range of new energy initiatives across India.

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