JSW Energy will Invest $1 Billion to Develop a 1500 MW Pumped Storage Project in Telangana

JSW Neo Energy, a subsidiary of JSW Energy, will establish a USD 1 billion pumped storage project with a generation capacity of 1500 MW in Telangana. The MoU (Memorandum of Understanding) for the project was signed at the World Economic Forum in Davos. The chairman of the JSW group met with Chief Minister Revanth Reddy.

JSW Neo Energy, a subsidiary of JSW Energy, will be responsible for setting up the proposed project in Telangana. The government is eager to collaborate with JSW on their future projects in Telangana. The Chief Minister assured that the project would receive all the necessary support. 

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The project can provide a quick and reliable source of peak power, helping to meet sudden increases in demand and preventing blackouts. With the increasing integration of renewable energy sources like solar and wind, which are intermittent, pumped storage projects play a crucial role in grid stability by storing excess energy during off-peak hours and releasing it during peak demand periods.

The project is expected to create significant job opportunities during the construction and operation phases, contributing to the local economy.

About JSW Neo Energy
 

JSW Neo Energy is a wholly-owned subsidiary of JSW Energy, a leading Indian power producer. Formed in March 2022 as part of a business reorganization, JSW Neo Energy houses all the renewable and green energy businesses of JSW Group.

Their primary focus is on developing and acquiring renewable energy assets, primarily solar and wind power projects. The company currently has a total capacity of 9.9 GW, of which nearly 6 GW is from renewable sources. 

The company has ambitious plans for the future. The company aims to reach 20 GW of capacity by 2030, with a near-term target of 10 GW by 2025. This would make JSW Neo Energy one of the largest renewable energy companies in India.

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