JSW Energy Signs Agreement For Pumped Hydro Energy Storage With UP Power Corp

JSW Energy Ltd. announced on Thursday that its wholly-owned subsidiary, JSW Neo Energy Ltd., has signed a pumped hydro storage power procurement agreement with Uttar Pradesh Power Corp. Ltd. The agreement involves the procurement of 1,500 MW/12,000 MW-hours of pumped hydro energy storage.

Under the terms of the agreement, JSW Neo Energy will be entitled to receive a fixed capacity charge of ₹7.72 million per MW per annum for a period of 40 years.

The project, located in Sonbhadra district, Uttar Pradesh, will be capable of a scheduled discharge of eight hours per day, with a maximum continuous discharge of six hours per day. The project is expected to be commissioned within the next six years.

Following this, the company’s total locked-in energy storage capacity will stand at 28.3 GW-hours.