JSW Energy and MSEDCL ink 1,500 MW energy storage deal
POWER & RENEWABLE ENERGY

JSW Energy and MSEDCL ink 1,500 MW energy storage deal

JSW Energy PSP Two, a subsidiary of JSW Energy, has signed an Energy Storage Facility Agreement (ESFA) with the Maharashtra State Electricity Distribution Company (MSEDCL) for a pumped hydro energy storage project with a capacity of 1,500 MW/12,000 MWh. This agreement comes after a letter of intent was issued on October 1, 2024.

The 40-year agreement stipulates that JSW Energy will receive a fixed capacity charge of Rs 8.466 million per MW per year. The Bhavali Pumped Hydro Project, located in the Nashik and Thane districts of Maharashtra, will offer an 8-hour discharge capacity with a maximum of 5 continuous hours of discharge. The project is expected to be commissioned within 48 months.

This initiative is projected to create direct employment for 3,000 individuals and contribute to local infrastructure, including roads, irrigation, sanitation systems, and educational facilities, as part of the company's Corporate Environmental Responsibility initiatives. According to India’s National Electricity Plan, the country’s hydro pumped storage capacity is expected to reach 27 GW by FY2032, while battery energy storage is anticipated to reach 47 GW. JSW Energy’s pumped hydro project is expected to play a crucial role in achieving these targets.

Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, expressed excitement about signing the first energy storage facility agreement for a pumped hydro storage plant, viewing it as a significant milestone in their journey toward becoming an energy products and services company. He stated that by integrating advanced energy storage solutions, the project will not only enhance grid stability but also contribute to local area development.

JSW Energy aims to achieve 40 GWh of energy storage by 2030, having already secured 16.2 GWh. The company’s total locked-in generation capacity is 18.2 GW, which includes 7.7 GW of operational capacity and a renewable energy pipeline of 8.3 GW. They are targeting a generation capacity of 20 GW by 2030 and have set a goal of becoming carbon neutral by 2050.

JSW Energy PSP Two, a subsidiary of JSW Energy, has signed an Energy Storage Facility Agreement (ESFA) with the Maharashtra State Electricity Distribution Company (MSEDCL) for a pumped hydro energy storage project with a capacity of 1,500 MW/12,000 MWh. This agreement comes after a letter of intent was issued on October 1, 2024. The 40-year agreement stipulates that JSW Energy will receive a fixed capacity charge of Rs 8.466 million per MW per year. The Bhavali Pumped Hydro Project, located in the Nashik and Thane districts of Maharashtra, will offer an 8-hour discharge capacity with a maximum of 5 continuous hours of discharge. The project is expected to be commissioned within 48 months. This initiative is projected to create direct employment for 3,000 individuals and contribute to local infrastructure, including roads, irrigation, sanitation systems, and educational facilities, as part of the company's Corporate Environmental Responsibility initiatives. According to India’s National Electricity Plan, the country’s hydro pumped storage capacity is expected to reach 27 GW by FY2032, while battery energy storage is anticipated to reach 47 GW. JSW Energy’s pumped hydro project is expected to play a crucial role in achieving these targets. Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, expressed excitement about signing the first energy storage facility agreement for a pumped hydro storage plant, viewing it as a significant milestone in their journey toward becoming an energy products and services company. He stated that by integrating advanced energy storage solutions, the project will not only enhance grid stability but also contribute to local area development. JSW Energy aims to achieve 40 GWh of energy storage by 2030, having already secured 16.2 GWh. The company’s total locked-in generation capacity is 18.2 GW, which includes 7.7 GW of operational capacity and a renewable energy pipeline of 8.3 GW. They are targeting a generation capacity of 20 GW by 2030 and have set a goal of becoming carbon neutral by 2050.

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?