JSW Energy, through its affiliate, JSW Neo Energy, has entered into a Memorandum of Understanding (MoU) with the state government of Telangana (India) for setting up the 1,500 MW Komoram Bheem pumped-storage hydropower project. With the signing of the MoU, the company has tied-up resources for 5 GW of pumped-storage projects in 4 Indian states, namely Maharashtra, Chhattisgarh, Telangana, and Rajasthan.
JSW Energy plans to develop 10 GW of hydro pumped storage capacity, as part of a wider target to reach 20 GW capacity by 2030, with the share of renewable energy increasing to 85% of the total. Around 2.25 GW of renewable energy projects are currently under construction, Wind projects of 1.26 GW tied with SECI, are expected to be commissioned in the next 12 months. With the commissioning of these projects, JSW Energy’s total generation capacity will increase to around 7 GW, with renewable energy share amounting to about 55%.
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