JSW Energy Limited has informed the Exchange regarding 'Pumped Hydro Storage Power Procurement Agreement with Uttar Pradesh Power Corporation Limited'.
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JSW Energy's wholly-owned subsidiary JSW Neo Energy has signed a 40-year Pumped Hydro Storage Power Procurement Agreement (PHSPPA) with Uttar Pradesh Power Corporation Limited (UPPCL) for 1,500 MW / 12,000 MWh of energy storage capacity. The project will be set up in Sonbhadra district, Uttar Pradesh, with JSW entitled to a fixed capacity charge of ₹77.2 lakhs per MW per annum, translating to roughly ₹1,158 crore per year. It can deliver 8 hours of scheduled discharge daily and is expected to be commissioned within 6 years. With this addition, JSW Energy's locked-in energy storage capacity rises to 28.3 GWh, keeping the company on track for its 40 GWh storage target by 2030.
This is a long-term, government-backed contract that significantly strengthens JSW Energy's energy storage pipeline and revenue visibility over the coming decades. However, since commissioning is 6 years away, the financial impact will be back-end loaded and the stock is unlikely to react sharply in the near term.