JSW Energy Ltd, through its wholly-owned subsidiary, JSW Neo Energy Ltd, has entered into an MoU with the Government of Telangana for setting up a 1,500-mw capacity hydro pumped storage project — Komoram Bheem Pump Storage Project – in Telangana.
With the rapid addition of renewable energy in the country, the development of energy storage solutions such as hydro pumped storage projects (PSP) becomes essential to solve for intermittent power supply from renewables. Hydro Pumped Storage is a well-established technology that provides adequate peaking power reserves, reliable grid operation, and energy balancing and storage capacity, a release from JSW Energy said.
More states
JSW Energy through its green growth vehicle JSW Neo Energy has been expeditiously securing key resources for hydro PSPs in various resource-rich states for projects with a targeted capacity of 10 GW. With the signing of the aforesaid MoU, the company has tied-up resources for 5 GW hydro PSPs with various states like Maharashtra, Chhattisgarh, Telangana, and Rajasthan.
Also read: JSW Energy Completes Tie-Up For Entire Wind Capacity Won In SECI Auction
Carbon neutrality by 2050
JSW Energy has set an ambitious target for a 50 per cent reduction in its carbon footprint by 2030 and achieving carbon neutrality by 2050 by transitioning towards renewable energy. The company has set a target to reach 20 GW capacity by 2030, with the share of renewable energy increasing to 85 per cent of the total.
Around 2.25 GW of renewable energy projects are currently under construction, wind projects of 1.26 GW tied with SECI, are expected to be commissioned in the next 12 months. With the commissioning of these projects, the company’s total generation capacity will increase to around 7 GW, with renewable energy share amounting to about 55 per cent.
Featured schematic diagram sourced from alternative-energy-tutorials.com
