JSW Energy, through its wholly-owned subsidiary, JSW Neo Energy, has entered into a memorandum of understanding (MoU) with the government of Telangana.
The company has inked MoU for setting up a 1,500 MW capacity hydro pumped storage project viz. Komoram Bheem Pump Storage project in the state of Telangana.
With the signing of MoU, the company has tied-up resources for five GW hydro PSPs with the governments of various states -- Maharashtra, Chhattisgarh, Telangana, and Rajasthan.
The company has set a target to reach 20 GW capacity by 2030, with the share of renewable energy increasing to 85 percent of the total.
Around 2.25 GW of renewable energy projects are currently under construction, wind projects of 1.26 GW tied with SECI, are expected to be commissioned in the next 12 months.
With the commissioning of these projects, the company’s total generation capacity will increase to approximately seven GW, with renewable energy share amounting to around 55 percent.
