JSW Neo Energy inks deal with UPPCL for 1500 MW pumped hydro storage
JSW Neo Energy
Limited, a wholly-owned subsidiary of JSW Energy Limited, has signed a
Pumped Hydro Storage
Power Procurement Agreement
(PHSPPA) with Uttar Pradesh Power Corporation Ltd. (
UPPCL
) for 1,500 MW / 12,000 MWh of pumped
hydro energy
storage.
Under this agreement, the supply of
energy storage capacity
is for a period of 40 years, and JSW Neo Energy will receive a fixed capacity charge of ₹77.2 lakh per MW per annum.
The pumped hydro storage will be capable of a scheduled discharge of 8 hours, with a maximum continuous discharge of 6 hours per day. The project is expected to be commissioned in the next six years.
With this agreement, JSW Neo Energy's total locked-in energy storage capacity now stands at 28.3 GWh, including 26.4 GWh of pumped storage projects.
The company is presently constructing various power projects to the tune of 11.3 GW, with a vision to achieve a total
power generation capacity
of 20 GW.
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