JSW Energy PSP Two Limited, a subsidiary of JSW Energy, has entered into an energy storage facility agreement (ESFA) with the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for a 1,500 MW/12,000 MWh pumped hydro energy storage project. The letter of intent for this was issued on October 1, 2024. The 40-year contract stipulates that JSW Energy will receive a fixed capacity charge of Rs 8.46 million per MW annually.
The Bhavali Pumped Hydro Project, located in the Nashik and Thane districts of Maharashtra, will have an 8-hour discharge capacity, with a maximum of 5 continuous hours of discharge. The project is scheduled to be commissioned within 48 months. It is expected to provide direct employment for 3,000 people.
In July 2024, JSW Renew Energy (Raj) Limited, a wholly-owned step-down subsidiary of JSW Energy Limited, signed power purchase agreement (PPA) with SJVN Limited for inter-state transmission system (ISTS) connected solar capacity of 700 MW. In June 2024, JSW Neo Energy secured a letter of award from the Solar Energy Corporation of India for the development of a 300 MW ISTS-connected wind-solar hybrid project.
