Maharashtra: JSW Neo Gets 1,500 MW / 12,000 MWh Pumped Hydro Storage Project

JSW energy

Mumbai-based JSW Neo Energy Limited (JSW Neo), a subsidiary of JSW Energy Limited, received a Letter of Intent (LoI) for the procurement of 1,500 MW / 12,000 MWh of pumped hydro energy storage from the Maharashtra State Electricity Distribution Company Ltd (MSEDCL). Their Bhavali Pumped Hydro Project is located in the Nashik and Thane districts and can feature an 8-hour discharge capacity with a maximum continuous discharge of 5 hours. The LoI outlines the provision of energy storage capacity for 40 years.

As a result, the company’s locked-in energy storage capacity now stands at 16.2 GWh, which includes 14.4 GWh of pumped hydro storage and 1.8 GWh of battery energy storage. Since 2022, the firm has been focused on adding clean energy storage to its portfolio.

Sharad Mahendra, Joint Managing Director and Chief Executive Officer (CEO) of JSW Energy said, “Often referred to as ‘Water Batteries,’ pumped storage plants (PSPs) play a crucial role in ensuring grid stability, integrating variable renewable energy sources, and fostering local development. These energy storage projects are essential for achieving our NDC targets and perfectly complement modern clean energy systems. This project is a significant step toward our goal of reaching 40 GWh of energy storage capacity by 2030 and becoming a comprehensive provider of energy products and services.”

JSW Energy has a total locked-in generation capacity of 18.2 GW, comprising 7.7 GW of operational capacity, 2.1 GW under construction across wind, thermal, and hydro projects, and a renewable energy pipeline of 8.3 GW. The company also holds 16.2 GWh of locked-in energy storage capacity through both battery energy storage systems and pumped hydro storage projects. The company aims to achieve 20 GW of generation capacity and 40 GWh of energy storage capacity by 2030. Even as it remains ambiguous on its therml portfolio’s future, the firm has declared a plan to be carbon neutral by 2050.