JSW Energy Signs PHSPPA for 1,500 MW / 12,000 MWh PSP with UPPCL

JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited ("The Company") has signed Pumped Hydro Storage Power Procurement Agreement ("PHSPPA") with Uttar Pradesh Power Corporation Ltd. ("UPPCL") for procurement of 1,500 MW / 12,000 MWh of pumped hydro energy storage.

The PHSPPA is for supply of energy storage capacity for a period of 40 years where the company will be entitled to receive a fixed capacity charge of ₹77.2 lakhs per MW per annum. The aforesaid project, located at Sonbhadra district, Uttar Pradesh will be capable of a scheduled discharge of 8 hours (with maximum continuous 6 hours) per day. The project is expected to be commissioned in next 6 years.

Subsequent to this, the Company's total locked-in energy storage capacity now stands at 28.3 GWh, which includes 26.4 GWh of PSP. The Company is well-positioned to achieve its target of 40 GWh of energy storage by 2030.

Shares of JSW Energy Limited was last trading in BSE at Rs. 469.95 as compared to the previous close of Rs. 479.10. The total number of shares traded during the day was 123411 in over 3278 trades.

The stock hit an intraday high of Rs. 487.10 and intraday low of 468.25. The net turnover during the day was Rs. 58664540.00.

Source : Equity Bulls

Keywords

JSWEnergy INE121E01018 JSWNeoEnergy PHSPPA UPPCL