Telangana Gets A Good Deal At Davos, Set To Install 1,500 MW PSP

Telangana Biggest Beneficiary At Davos, Set To Install 1,500 MW PSP

A slew of announcements was made by leaders around the world on the issue of boosting renewables on the sidelines of World Economic Forum, held in Davos, Switzerland recently.  

At the World Economic Forum (WEF) some key beneficiaries included companies like JSW and Adani solar announced their investment plans. Adani signed an MoU with Telangana for making an investment of ₹12,400 crore, in the state. Whereas JSW Neo Energy, a subsidiary of JSW Energy shared an investment plan of 9,000 crore in the state. JSW also announced setting up of a Pumped Storage Project (PSP) that is estimated to generate 1,500 MW capacity. 

Another Memorandum of Understanding (MoU) was signed between the State of Telangana and JSW Neo Energy at a meeting held at the World Economic Forum. In a social media post shared on the platform X, Sajjan Jindal, Chairman of JSW Group, met with Chief Minister Revanth Anumula on the sidelines of World Economic Forum (#WEF2024) and announced the plan for setting up aforementioned projects.

At the event, Adani Group chairman of Gautam Adani announced his investment plans in in his social media post “Four Memorandum of Understanding (MOUs) were exchanged between Adani Group and the state government, for an investment of ₹12,400 crore, in Telangana. This investment is expected to span over the next few years.”

Other ministers that joined the event included, Chief Minister (CM) Revanth Reddy, along with Minister of Information Technology, Electronics and Communication (ITE&C) Industries, and Legislative Affairs, minister of Information and Technology D. Sridhar Babu signed a Memorandum of Understanding (MoU) @Min_SridharBabu, and Chairman of Adani Group, Mr. Gautam Adani, and President and CEO of Aerospace and Defense, Ashrajvanshi @Ashrajvanshi