JSW Energy has taken a courageous step toward future-proofing its portfolio with an investment in the energy storage sector. They are announcing plans for 16.3 gigawatt-hours (GWh) of new projects. This program includes one of India’s largest pumped hydro storage projects. It has a potential capacity of 12 GWh and is well positioned in West Bengal. This energy storage initiative is primarily focused on improving energy security in the storm prone region. Along the way, it will create thousands of direct and indirect job-related opportunities.
As of January 2018, the company has started building a new 1,600 megawatt (MW) ultra-supercritical thermal coal fired power plant in Salboni, West Bengal. This facility represents a key facet of JSW Energy’s expansion strategy in East India, highlighting its commitment to enhancing energy infrastructure. The active portion of the facility includes three operational units with a total capacity of 1.8 GW. Significantly, 95% of the output from these units is contracted under long and medium PPAs.
JSW Energy has made a bold move. As one piece of its long-term plan, it wants to reach 40 GWh of energy storage capacity by 2030. The company is emphasizing skill development and local sourcing initiatives to ensure that the Salboni region benefits from these advancements. This new approach aims to foster local economic development and is more in line with JSW Energy’s broader commitment to sustainable economic development.
JSW Energy just last week received approval for its acquisition of KSK Mahanadi Power Company. This includes a huge 3.6 GW coal-fired, thermal power plant located in Chhattisgarh. This acquisition is an integral step toward the company’s resolution plan, approved as per the Insolvency and Bankruptcy Code of 2016. It truly does symbolize a gigantic step in their fight to reform their power generation portfolio. This project is worth around Rs 160 billion (around $1.8 billion). It’s JSW Energy’s biggest greenfield project so far.
“The upcoming 1600MW Ultra supercritical thermal power plant of JSW Energy is the largest greenfield plant of our Group and the biggest thermal power project by the private sector in the state of West Bengal.” – Sajjan Jindal, JSW Group chairman