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 Energy

South West Pinnacle Wins Rs 30 Cr Oman Mining Contract

South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract from Minerals Development Oman (MDO) for mining exploration in concession areas 12B and 13.The two-year project will be carried out via Alara Resources LLC, a JV in Oman. MDO, backed by Oman’s investment authorities, focuses on monetising mineral wealth.The contract covers copper, gold, and chromite and highlights South West Pinnacle’s growing footprint in international exploration and mining services. ..

Next Story
Equipment

Godrej GEG Boosts Intralogistics with AI and Green Tech

Godrej Enterprises Group (GEG) is revolutionising warehouse and factory logistics through its Material Handling Equipment and Storage Solutions arms by integrating AI, IoT, and automation.With 20–25% market share and 85% local sourcing, GEG champions Atmanirbhar Bharat and sustainability. The Chennai plant, a green manufacturing leader, uses RoHS-compliant materials and has slashed energy consumption by 60%.GEG serves e-commerce, FMCG, retail, and cold chains with high-performance racking and electric forklifts. Upcoming IoT-enabled forklifts and telematics solutions aim to improve speed, sa..

Next Story
Infrastructure Urban

Amit Shah Inaugurates Key Projects Across Gujarat

Union Home Minister Amit Shah inaugurated and laid the foundation stone for various projects in Gujarat’s Panchmahal district and Ahmedabad.In Godhra, he inaugurated the Center of Excellence building, sports complex, reservoir, and Miyawaki plantation. In Ahmedabad, he unveiled a new cooperative complex in Adaroda village and a primary school in Juwal.These projects, under the Model Co-op Village scheme, aim to boost education, sustainability, and rural development across the state. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?