JSW Energy arm to invest Rs 9,000 cr in Telangana to setup Pumped Storage Project

Hyderabad: JSW Neo Energy, a subsidiary of leading power producing company JSW Energy, has announced an investment of Rs 9,000 crore for setting up of a Pumped Storage Project in Telangana. A Memorandum of Understanding (MoU) was signed between the Government of Telangana and JSW Neo Energy at the World Economic Forum (WEF), Davos.

Sajjan Jindal, Chairman of JSW Group, met A Revanth Reddy, Chief Minister of Telangana, on the sidelines of WEF meet and announced the plan for setting up the project. The proposed project will have energy generation capacity of 1,500 MW.

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, which focuses on renewable and new energy solutions, will be responsible for setting up the proposed project in Telangana. On the occasion, CM Revanth Reddy assured JSW of all the necessary support for the Pumped Storage Project and said that the proposed project is aligned with the State’s focus on promoting renewable energy.

He further stated that JSW is a key partner for the State in its journey towards clean and green energy and the government is keen to collaborate with JSW for their 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 further stated that JSW is rapidly expanding in India and aims to further grow its presence in the State.

Minister for Industries, ITE&C 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.