Shares of SJVN Limited surge 4% as 60 MW NMHEP nears completion

SJVN Limited has reported its latest development, announcing the commencement of Mechanical Spinning of Unit-I at the 60 MW Naitwar Mori Hydro Electric Project (NMHEP) in Mori, Uttarakhand. This marks a significant step towards the commissioning of the project and signifies the final preparations for synchronizing the units, bringing the project closer to its operational phase.

The project involves the spinning of turbine generators and associated auxiliaries, all powered by the flow of water. The Barrage and Head Race Tunnel have been successfully filled with water following procedural guidelines for hydro project components.

The Naitwar Mori Hydro Electric Project is an ambitious venture designed to harness energy from the Tons River in the Uttarkashi district of Uttarakhand. Once operational, it is expected to generate a substantial 265.5 million units of electricity annually. To facilitate power evacuation, SJVN Limited has constructed a 37 km 220 KV Transmission Line from Bainol to Snail.

This accomplishment underscores the company’s unwavering commitment to sustainable energy sources and reducing reliance on fossil fuels. SJVN management said that it has set its sights on becoming a 50,000 MW company by 2040 in alignment with its vision for a greener and more sustainable future.

Yesterday, SJVN stock closed at Rs 69.88. Today it opened at Rs 70.80 and closed at Rs 72.44, marking a 3.66% increase. It has a 52-week high of Rs 83.69 and a 52-week low of Rs 29.90. Over the past six months, the company’s shares have provided a multibagger return of 123.94%, and in the past year, its value has increased by 130.33%. The company currently has a market capitalization of approximately Rs 28,450 crore.

SJVN is involved in electricity generation and provides consultancy services for hydro-power projects. It is a Miniratna company under the Ministry of Power, Government of India established as a joint venture between the Government of India with a 59.92% shareholding and the Government of Himachal Pradesh with a 26.85% shareholding. SJVN also undertakes the implementation and operation of power projects in neighbouring countries such as Nepal and Bhutan.

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