JSW Energy’s Subsidiary Secures LoI for 1,500 MW Hydro Storage Project

JSW Energy Limited, through its wholly-owned subsidiary JSW Neo Energy Limited, has received a Letter of Intent (LoI) from the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for the procurement of 1,500 MW / 12,000 MWh of pumped hydro energy storage. 

The Bhavali Pumped Hydro Project, located in the Nashik and Thane districts, will have an 8-hour discharge capacity and can deliver a maximum of 5 hours of continuous discharge. This energy storage capacity will be provided for a period of 40 years, ensuring long-term stability and integration of renewable energy sources into the grid.

With this development, JSW Energy’s total locked-in energy storage capacity now stands at 16.2 GWh, which includes 14.4 GWh from pumped hydro storage and 1.8 GWh from battery energy storage systems. The company is committed to increasing its energy storage capacity as it transitions towards cleaner and more sustainable energy solutions.

JSW Energy’s strategic focus is on developing hydro-pumped storage projects as part of its broader clean energy initiative. The Bhavali Pumped Hydro Project is an important milestone in the company’s goal of achieving 40 GWh of energy storage capacity by 2030, positioning it as a comprehensive provider of energy products and services.

JSW Energy currently has a total locked-in generation capacity of 18.2 GW, which includes 7.7 GW of operational capacity, 2.1 GW under construction across wind, thermal, and hydro sectors, and a renewable energy pipeline of 8.3 GW. The company aims to reach a generation capacity of 20 GW and 40 GWh of energy storage capacity by 2030. Additionally, JSW Energy has set an ambitious target of achieving carbon neutrality by 2050, reinforcing its commitment to sustainability and clean energy transitions.

Commenting on this development, the Joint Managing Director and CEO of JSW Energy, Sharad Mahendra, said, “We are excited to announce the receipt of the LoI for the Bhavali pumped hydro project. Our proven expertise in constructing hydro plants and managing the largest private sector hydro portfolio uniquely positions us to develop hydro pumped storage projects. Often referred to as “Water Batteries,” PSPs play a vital role in ensuring grid stability, integrating variable renewable energy sources, and promoting local development.” 

He further added, “These energy storage projects are crucial for achieving our NDC targets and are a perfect complement to modern clean energy systems. This project marks a significant step towards our goal of achieving 40 GWh of energy storage capacity by 2030 and becoming a comprehensive provider of energy products and services.”

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