JSW Energy Ltd.

JSW Energy's wholly owned subsidiary -- JSW Neo Energy has signed Pumped Hydro Storage Power Procurement Agreement (PHSPPA) with Uttar Pradesh Power Corporation (UPPCL) for procurement of 1,500 MW / 12,000 MWh of pumped hydro energy storage. The PHSPPA is for supply of energy storage capacity for a period of 40 years where the company will be entitled to receive a fixed capacity charge of Rs 77.2 lakh per MW per annum. 

The aforesaid project, located at Sonbhadra district, Uttar Pradesh will be capable of a scheduled discharge of 8 hours (with maximum continuous 6 hours) per day. The project is expected to be commissioned in next 6 years. Subsequent to this, the company's total locked-in energy storage capacity now stands at 28.3 GWh, which includes 26.4 GWh of PSP. The company is well-positioned to achieve its target of 40 GWh of energy storage by 2030.

JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.