SJVN shares in focus as co signs MoU with Rajasthan government

economictimes.indiatimes.com:

SJVN are likely to remain in focus on Friday as the company announced that it has signed a memorandum of understanding (MoU) with the Energy Department, Government of Rajasthan for the development of renewable energy in the state.

“In compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is intimated that the Company has signed a Memorandum of Understanding (MoU) with Energy Department, Government of Rajasthan to spearhead the development of renewable energy in the state,” said the company in a filing to the exchanges.

Under the MoU, SJVN would be developing 5 GW pumped storage projects and 2 GW floating solar projects in the state.

“Both the parties have agreed to collaborate for the development of renewable energy on a long-term basis,” the company said.

Recently, the company was also upgraded to the Navratna status.

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