JSW Energy to set up 1000 MW Hydro Pumped Storage Project in Chattisgarh

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Biznextindia :  JSW Energy Limited, through its wholly owned subsidiary, JSW Neo Energy, has entered into a Memorandum of Understanding with the Government of Chhattisgarh for setting up a 1,000 MW capacity of Hydro Pumped Storage Project viz. Hasdev Bango Pumped Storage Project, in the State of Chhattisgarh. With rapid addition of renewable energy capacity in the country, development of energy storage solutions such as Hydro Pumped Storage Projects (PSP) become essential to solve for intermittent power supply from renewables. Hydro Pumped Storage is a well established technology that provides adequate peaking power reserves, reliable grid operation, and energy balancing and storage capacity.

JSW Energy through its green growth vehicle JSW Neo Energy has been expeditiously securing key resources for Hydro PSPs in various resource rich states for projects with a targeted capacity totalling upto 10 GW. Earlier, in FY22, the Company had also signed a MoU with the Government of Maharashtra for 1,500 MW and a Letter of Intent with the Government of Rajasthan for 1,000 MW Hydro PSPs.

“Developing energy storage capacities is critical for achieving India’s renewable ambitions. Our proven excellence in safely building hydro plants and operating the largest hydro portfolio in the private sector has uniquely enabled us to develop Hydro PSPs in the country. By integrating Hydro PSPs with our solar and wind power plants in the near future, we can provide firm despatchable renewable power. This will enable us to enter energy services play in the country” Prashant Jain, Joint Managing Director and CEO of JSW Energy, said.

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