The MoU is for setting up a 960 MW capacity Hydro Pumped Storage Project (PSP) viz. Pane (Raigarh) Pump Storage Project in the state.
JSW Energy through its green growth vehicle JSW Neo Energy has been securing key resources for Hydro PSPs in various resource rich states for projects with a targeted capacity totalling upto 10 GW.
With the signing of the MoU, the company has secured resources for around six GW hydro PSPs with the governments of various states — Maharashtra, Chhattisgarh, Telangana, and Rajasthan.
JSW Energy’s platform capacity stands at around 9.1 GW (share of renewables at 65 percent) including 1.75 GW renewable assets under acquisition from Mytrah and about 2.5 GW of under-construction/in-pipeline wind and hydro projects which are likely to be commissioned in phases over the next 12-24 months.