JSW Neo Energy, a subsidiary of JSW Energy, has unveiled ambitious plans to establish a cutting-edge pumped storage project in Telangana, featuring a formidable generation capacity of 1,500 MW. The momentous announcement was made during the World Economic Forum in Davos, where a Memorandum of Understanding (MoU) was formally inked between JSW Neo Energy and the state government.
In a significant meeting on the sidelines of the WEF, Sajjan Jindal, the Chairman of JSW Group, engaged with Telangana Chief Minister A Revanth Reddy to share the groundbreaking initiative. The pumped storage project, with an estimated investment of Rs 9,000 crore, marks a crucial stride in JSW Neo Energy’s commitment to renewable and new energy solutions.
JSW Neo Energy, a wholly owned subsidiary of JSW Energy, will spearhead the implementation of this visionary project in Telangana. Chief Minister Revanth Reddy assured unwavering support for the venture, emphasizing JSW’s pivotal role as a key partner in the state’s pursuit of clean and sustainable energy. The government expressed eagerness to foster collaboration with JSW for forthcoming projects across India.
Acknowledging the support from JSW and the Telangana Government, Sajjan Jindal conveyed his gratitude, underscoring the significance of the proposed project. The high-profile meeting included the presence of key figures such as Minister for Industries D Sridhar Babu, Principal Secretary Jayesh Ranjan, and Special Secretary for Investment Promotion, Vishnu Vardhan Reddy, as outlined in the official release. This landmark endeavour signifies a major stride towards a greener and more sustainable energy landscape in the region.