Mumbai, India — JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited (“The Company”) has signed Pumped Hydro Storage Power Procurement Agreement (“PHSPPA”) with Uttar Pradesh Power Corporation Ltd. (“UPPCL”) for procurement of 1,500 MW / 12,000 MWh of pumped hydro energy storage.
The PHSPPA is for supply of energy storage capacity for a period of 40 years where the company will be entitled to receive a fixed capacity charge of ₹77.2 lakhs per MW per annum. The aforesaid project, located at Sonbhadra district, Uttar Pradesh will be capable of a scheduled discharge of 8 hours (with maximum continuous 6 hours) per day. The project is expected to be commissioned in next 6 years.
Subsequent to this, the Company’s total locked-in energy storage capacity now stands at 28.3 GWh, which includes 26.4 GWh of PSP. The Company is well-positioned to achieve its target of 40 GWh of energy storage by 2030.
ABOUT JSW ENERGY: JSW Energy Ltd is one of the leading Private sector power producers in India and part of the USD 24 billion JSW Group which has significant presence in sectors such as steel, energy, infrastructure, cement, sports among others. JSW Energy Ltd has established its presence across the value chains of power sector with diversified assets in power generation, and transmission. With strong operations, robust corporate governance and prudent capital allocation strategies, JSW Energy continues to deliver sustainable growth, and create value for all stakeholders. JSW Energy began commercial operations in 2000, with the commissioning of its first 2×130 MW thermal power plants at Vijayanagar, Karnataka. Since then, the company has steadily enhanced its power generation capacity from 260 MW to 10 GW ahead of FY2025 target, ensuring diversity in geographic presence, fuel sources and power offtake arrangements. The Company is presently constructing various power projects to the tune of 11.3 GW, with a vision to achieve a total power generation capacity of 20 GW before the year 2030.
