Navratna PSU SJVN, Chhattisgarh govt ink MoU for ₹9,500 crore pumped storage project

State-owned SJVN (Satluj Jal Vidyut Nigam) has signed a Memorandum of Understanding (MoU) with the Government of Chhattisgarh and Chhattisgarh State Power Generation Company Limited (CSPGCL) to develop a 1800 MW pumped storage project (PSP) at Kotpali in Balrampur district.The ₹9,500 crore project is expected to generate 3,967 million units (MU) of electricity, addressing energy storage needs and enhancing grid stability amid rising dependence on renewable sources like solar and wind.
Pumped storage plants store surplus energy by pumping water to an upper reservoir during non-peak hours and generating power during peak demand.
Project details at a glance

Project	Details
Location	Kotpali, Balrampur, Chhattisgarh
Capacity	1800 MW
Energy generation	3,967 MU annually
Investment	₹9,500 crore (Estimated)
Employment	5,000 jobs (direct & indirect)

The MoU was signed in the presence of Chhattisgarh Chief Minister Vishnu Dev Sai, Commerce & Industry Minister Lakhan Lal Dewangan, and senior officials from SJVN and the Chhattisgarh government, the company said in a stock exchange filing.Also read: Can this Navratna PSU announce a mega order to meet its FY25 guidance?

SJVN’s Director (Projects) Sushil Kumar Sharma, Chhattisgarh’s Principal Secretary (Energy) Subodh Kumar Singh, and CSPGCL MD Sanjeev Kumar Katiyar formalised the agreement.

The Kotpali PSP, an off-stream closed-loop project, is expected to improve energy security while promoting industrial growth and job creation in the state.

Shares of the Navratna PSU were trading at ₹86.08, down nearly 2% on the BSE ahead of the closing bell.