Shares of SJVN rallied over 13% on Friday morning after the company secured an over ₹13,000 crore project in Mizoram. The stock hit an intraday high of ₹159.65.

What Happened: SJVN in a regulatory filing said it received a letter of intent from the Mizoram government alloting them Darzo Lui pumped storage project. The project has an installed capacity of 2,400 megawatt with the project proposed across Darzo Nallah, a tributary of the Tuipui River

The estimated cost of the project on completion is ₹13,947.50 crores including interest during construction and financing costs. The project is expected to be completed within 6 years. The project comprises eight units of 300 megawatts each.

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The annual energy generation with 95% plant availability shall be 4,993.20 million units. The annual input energy required for pumping water to the upper reservoir has been estimated to be 6,331.66 million units with 95% plant availability. SJVN said it will sign the agreement between the government of Mizoram within three months.

The company said this is its first project in the state of Mizoram.

Price Action: Shares of SJVN rose 10.44% to ₹155.77 on Friday morning.

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