JSW Energy Limited, through its wholly-owned subsidiary, JSW Neo Energy Limited, has entered into a memorandum of understanding (MoU) with Maharashtra government for setting up a 960 MW capacity hydro pumped storage project (PSP) viz. Pane (Raigarh) PSP in the state.
The company through its green growth vehicle JSW Neo Energy has been securing key resources for hydro PSPs in various resource rich states for projects with a targeted capacity totalling up to 10 GW. With the signing of the MoU, the company has secured resources for around six GW hydro PSPs with the governments of various states — Maharashtra, Chhattisgarh, Telangana, and Rajasthan.