Deals2 Oct 2024, 04:14 am
JSW Energy Subsidiary Receives Letter of Intent for 1,500 MW Pumped Hydro Energy Storage
AI Summary
JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Ltd, has received a letter of intent from Maharashtra State Electricity Distribution Company Limited for 1,500 MW / 12,000 MWh of pumped hydro energy storage. The Bhavali Pumped Hydro Project, situated in the Nashik and Thane districts, will have an 8-hour discharge capacity with a maximum of 5 hours of continuous discharge. The project is for providing energy storage capacity for a period of 40 years. This project marks a significant step towards JSW Energy's goal of achieving 40 GWh of energy storage capacity by 2030 and becoming a comprehensive provider of energy products and services.
Key Highlights
- JSW Neo Energy Limited received a letter of intent from Maharashtra State Electricity Distribution Company Limited for 1,500 MW / 12,000 MWh of pumped hydro energy storage.
- The Bhavali Pumped Hydro Project will have an 8-hour discharge capacity with a maximum of 5 hours of continuous discharge.
- The project is for providing energy storage capacity for a period of 40 years.
- This project is a significant step towards JSW Energy's goal of achieving 40 GWh of energy storage capacity by 2030.
- JSW Energy aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030.