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JSW Neo Energy Signs Agreement for 1,500 MW Pumped Hydro Storage with UPPCL

JSW Neo Energy Ltd., a subsidiary of JSW Energy Ltd., has signed a Pumped Hydro Storage Power Procurement Agreement (PHSPPA) with Uttar Pradesh Power Corporation Ltd. (UPPCL) to procure 1,500 MW/12,000 MWh of energy storage capacity. This agreement ensures a fixed capacity charge of INR 77.2 lakh/MW/annum for a 40-year period.

The pumped hydro storage project, located in the Sonbhadra district of Uttar Pradesh, is designed to provide a scheduled discharge of 8 hours per day, with a maximum continuous discharge of 6 hours. The project is expected to be operational within the next 6 years. Following this agreement, JSW Neo Energy's total energy storage capacity now stands at 28.3 GWh, including 26.4 GWh of pumped storage capacity (PSP). The company aims to reach 40 GWh of energy storage by 2030, positioning itself as a key player in India's energy storage sector.