JSW Energy to invest Rs 9,000-Cr to set up 1500 MW pumped storage project in Telangana

HYDERABAD: JSW Neo Energy, a subsidiary of JSW Energy, has announced the setting up of a 1,500 MW Pumped Storage Project in Telangana, with an investment of Rs 9,000 crore.

A Memorandum of Understanding (MoU) was signed between the State Government of Telangana and JSW Neo Energy at a meeting here at the World Economic Forum.

Sajjan Jindal, Chairman of JSW Group, met with Chief Minister A. Revanth Reddy on the sidelines of WEF and announced the plan for setting up the project.

A. Revanth Reddy assured JSW of all the necessary support for the Pumped Storage Project and said that the proposed project would be aligned with the State’s focus on promoting renewable energy.

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He further stated that JSW would be a key partner for the State in its journey towards clean and green energy and the Government was keen to collaborate with JSW for its future projects in India.

Sajjan Jindal, Chairman of JSW Group expressed his gratitude for the assurances to JSW and support from the Government of Telangana for their proposed project. He stated that JSW was rapidly expanding in India and aims to further grow its presence in the State.

Headquartered in Mumbai, JSW Energy is an integrated power company that generates, transmits, and trades electricity from thermal, hydro, and solar sources.

As a leading private sector power company in India, it has an operational capacity of 4,559 MW and is the country’s largest Independent Hydro Power Producer (IPP).

JSW Neo Energy, a wholly owned subsidiary of JSW Energy that focuses on renewable and new energy solutions, will be responsible for setting up the proposed project in Telangana.

Minister for Industries D Sridhar Babu, Principal Secretary ITE&C, I&C Jayesh Ranjan, and Special Secretary, Investment Promotion, Vishnu Vardhan Reddy were also present during the meeting.