Agreement signed for a 960 MW pumped-storage scheme in Maharashtra, India

The company, through its newly established green growth subsidiary JSW Neo Energy, an­nounced on 4 October the signing of an MoU with the Government of Maharashtra to build the 960 MW Pane (Raigarh) pumped-storage project. The company has to date secured the rights for around 6 GW of pumped-storage plants with the governments of various states, including Maharashtra, Chhat­tis­garh, Telangana, and Rajasthan. In April this year, JSW Neo Energy also signed an MoU with the Government of Chhattisgarh, a landlocked state in central east India, to build the 1000 MW Hasdev Bango pumped-storage project. In the last fiscal year the company has also signed an MoU with the State Government of Maharashtra for a 1500 MW project and signed a letter of intent with the Rajasthan Government for a 1000 MW project. The company says that water allocation has been approved for the two projects, and environmental clearance processes and techno-economic feasibility studies are now underway. The parent company, JSW Group, this year also reaffirmed this year its interest in developing a 900 MW pumped-storage scheme in the eastern state of West Bengal.