JSW Energy arm inks pact with Chhattisgarh govt for 1,000 MW project
POWER & RENEWABLE ENERGY

JSW Energy arm inks pact with Chhattisgarh govt for 1,000 MW project

JSW Energy's stock jumped 3.7% in early trading after a subsidiary signed a deal with the Chhattisgarh government to build a 1,000 MW hydro-pumped storage plant.

JSW Energy's stock hit a high of Rs 319.90 on the Bombay Stock Exchange (BSE), up from Rs 308.30 at the previous closing.

The company told the media that JSW Energy has entered into a memorandum of understanding (MoU) with the Government of Chhattisgarh through its wholly-owned subsidiary, JSW Neo Energy, for establishing a 1,000 MW capacity Hydro Pumped Storage Project, viz. Hasdev Bango Pumped Storage Project.

According to JSW, the development of energy storage solutions such as hydro pumped storage projects (PSPs) is becoming increasingly important because of the intermittent power supply from renewables.

The company signed a 1,500 MW contract with the Maharashtra government and a 1,000 MW letter of intent (LOI) with the Rajasthan government in the previous financial year (FY).

JSW Energy said that it has set an ambitious goal for a 50% reduction in carbon footprint by 2030 and accomplishing carbon neutrality by 2050 by transitioning towards renewable energy.

Image Source


Also read: JSW reports revenue growth of 22% in Q3 FY21

JSW Energy's stock jumped 3.7% in early trading after a subsidiary signed a deal with the Chhattisgarh government to build a 1,000 MW hydro-pumped storage plant. JSW Energy's stock hit a high of Rs 319.90 on the Bombay Stock Exchange (BSE), up from Rs 308.30 at the previous closing. The company told the media that JSW Energy has entered into a memorandum of understanding (MoU) with the Government of Chhattisgarh through its wholly-owned subsidiary, JSW Neo Energy, for establishing a 1,000 MW capacity Hydro Pumped Storage Project, viz. Hasdev Bango Pumped Storage Project. According to JSW, the development of energy storage solutions such as hydro pumped storage projects (PSPs) is becoming increasingly important because of the intermittent power supply from renewables. The company signed a 1,500 MW contract with the Maharashtra government and a 1,000 MW letter of intent (LOI) with the Rajasthan government in the previous financial year (FY). JSW Energy said that it has set an ambitious goal for a 50% reduction in carbon footprint by 2030 and accomplishing carbon neutrality by 2050 by transitioning towards renewable energy. Image SourceAlso read: JSW reports revenue growth of 22% in Q3 FY21

Next Story
Infrastructure Transport

JNPA Becomes First Indian Port to Cross 10 Million TEU Capacity

The Jawaharlal Nehru Port Authority (JNPA), located at Uran in Navi Mumbai, has become the first port in India to achieve over 10 million TEUs (twenty-foot equivalent units) in container handling capacity.With the recent expansion, the port now operates five container terminals with a combined capacity of 10.4 million TEUs, alongside two liquid and two general cargo terminals.Handling more than half of India’s container traffic, JNPA processed 7.05 million TEUs in 2024 and has moved 15.39 million tonnes of containers and 16.64 million tonnes of total cargo in the first two months of FY 2025â..

Next Story
Infrastructure Transport

Nod for Rs. 36.26 billion Expansion of Pune Metro Line 2

The Union Cabinet has approved the Rs.36.26 billion expansion of Pune Metro Line 2, adding 12.75 km of track and 13 new stations to improve east–west connectivity across the city.The project aims to link Pune’s urban core with rapidly growing suburbs, supporting the city’s rising demand for efficient and sustainable transport solutions. This expansion is part of Corridor 2 of the Pune Metro and includes two key routes: Vanaz to Chandani Chowk (Corridor 2A) and Ramwadi to Wagholi/Vitthalwadi (Corridor 2B).It will connect residential, IT, and educational hubs in areas such as Bavdhan, Koth..

Next Story
Infrastructure Transport

Assembly begins for ‘Nayak’ TBM on Thane– Borivali Twin Tunnel Project

The assembly of ‘Nayak’, the first of four Tunnel Boring Machines (TBMs) for the Thane–Borivali Twin Tube Tunnel Project, has commenced at the Thane site. Built by German firm Herrenknecht AG and deployed by Megha Engineering & Infrastructure (MEIL), the TBM marks a key milestone in Mumbai’s ambitious 11.8-km underground road corridor beneath Sanjay Gandhi National Park.The twin tunnels will reduce the Thane–Borivali travel distance by 12 km and decongest Thane Ghodbunder Road. ‘Nayak’, with a 13.2-metre diameter, is designed to bore through challenging geological conditions ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?