JSW Neo Energy Ltd, a wholly-owned subsidiary of JSW Energy Ltd, has received the letter of intent from Himachal Pradesh government to develop the Chhatru hydropower project.
In a release, JSW Energy said that the 126-mw Chhatru hydropower project will bedeveloped on BOOT (build, own, operate and transfer) basis, with an operational life of 40 years.
Consequent to this allotment, JSW Energy’s platform capacity now stands at around 9.2 GW (share of renewables at 66 per cent) including 1.75 GW renewable assets under acquisition from Mytrah and about 2.7 GW of under-construction/in-pipeline wind and hydro projects which are likely to be commissioned in phased manner.
The company is well ahead of timelines in achieving its near-term capacity target of 10 GW by FY25, the release said. JSW Energy has set a target to reach 20 GW capacity by 2030, comprising around 85 per cent of renewable energy.
Pumped storage project
It may be mentioned that in the first week of October 2022, JSW Neo Energy Ltd entered into an MoU with the Maharashtra government for setting up the 960-mw Pane (Raigarh) Pump Storage Project in the western state.
With this, JSW Energy has secured resources for around 6 GW hydro PSPs with the governments of various states like Maharashtra, Chhattisgarh, Telangana, and Rajasthan.
New energy vehicle
JSW Neo Energy Ltd limited, a wholly owned subsidiary of JSW Energy Ltd, is a vehicle formed as a part of re-organisation of business to own all the renewable/green and new energy businesses. The company is evaluating opportunities in emerging energy businesses of hydro pumped storage, battery energy storage, green hydrogen, etc.
Also read: JSW Energy Signs MoU For Pumped Storage Plant In Telangana
Project revival
According to information available with T&D India, the 126-mw Chhatru hydropower project in the Chenab River basin in Lahaul & Spiti district of Himachal Pradesh has been in the making for over 15 years. The project was allotted to DCM Shriram Group in around 2007 but the developer subsequently surrendered the project. Several other hydropower projects in the aforementioned basis were also cancelled for various reasons including opposition by the local population.
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