SJVN Limited — Updates, 10-03-2025: Press Release

SJVN has signed a Memorandum of Understanding (MoU) with the Government of Chhattisgarh and Chhattisgarh State Power Generation Company Limited for the development of an 1800 MW Pumped Storage Project (PSP) at Kotpali, Chhattisgarh. This MoU represents a significant advancement in India's efforts towards energy security and the clean power transition. The project, carrying an estimated investment of ₹9500 Crore, is set to create direct and indirect employment opportunities for approximately 5000 individuals during its development phase.

The Kotpali PSP, located in Balrampur District, will function as an off-stream closed loop system and is designed to generate around 3967 MU of energy. With the growing dependence on renewable energy sources like solar and wind, this initiative will ensure a stable power supply by storing excess energy during low-demand periods and supplying it during peaks, ultimately enhancing the region's renewable energy capacity and fostering economic development in Chhattisgarh. This development presents a positive outlook for shareholders as it aligns with the strategic aim of expanding SJVN's footprint in the renewable energy sector.