JSW Neo Energy Plans Massive Pumped Storage Project In Telangana
JSW Neo Energy, a wholly-owned subsidiary of JSW Energy specialising in renewable and new energy solutions, will lead the proposed project in Telangana
The JSW Neo Energy subsidiary, which is part of JSW Energy, declared that it would be establishing a 1,500 MW pumped storage project in Telangana, with an estimated expenditure of Rs 9,000 crore. JSW Neo Energy and the Telangana state government signed the memorandum of understanding (MoU) formalising this ambitious project during the World Economic Forum in Davos.
The project’s specifics were revealed by JSW Group Chairman Sajjan Jindal in a meeting with Telangana Chief Minister A. Revanth Reddy outside the forum. The proposed project in Telangana will be led by JSW Neo Energy, a fully-owned subsidiary of JSW Energy that specialises in renewable and new energy solutions.
Chief Minister Revanth Reddy emphasised JSW’s critical role in the state’s quest of clean and sustainable energy while expressing the government’s unflinching support for the project. He also conveyed his enthusiasm to support JSW’s future collaborations on other projects in India.
Sajjan Jindal responded by thanking the Telangana government and JSW for their cooperative efforts. The meeting, which was attended by the principal secretary Jayesh Ranjan, the special secretary for investment promotion Vishnu Vardhan Reddy, and the minister for industries D Sridhar Babu, marks a critical turning point in the development of this large investment in Telangana’s energy infrastructure.