SJVN's share price rose more than 4 percent in the opening trade on November 22 following Memorandum of Understanding (MoU) with the Energy Department of the Government of Rajasthan, focusing on the development of renewable energy projects in the state.
At 09:20am, SJVN was quoting at Rs 108.15, up Rs 4.65, or 4.49 percent, on the BSE.
As per the MoU, SJVN plans to develop 5 GW of pumped storage projects and 2 GW of floating solar projects
Both the parties have agreed to collaborate for development of renewable energy on long term basis.
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The company had reported increase in net profit at Rs 441.14 crore in the quarter ended September 2024, against Rs 439.64 crore, YoY.
In the month of September, the company inked memorandum of understandings with the Government of Maharashtra for development of Pumped Storage Projects (PSPs) and Floating Solar Projects (FSPs) in the state.
And, second MoU was inked between SJVN and the Maharashtra State Power Generation Company (MAHAGENCO) for the development of 505 MW floating solar project at Lower Wardha Dam in Maharashtra.
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