JSW Neo Energy has signed a long-term agreement (PHSPPA) with the Uttar Pradesh Power Corporation (UPPCL) to supply pumped hydro storage power. The agreement is for providing 1,500 MW/12,000 MWh of energy storage using pumped hydro.

The agreement will last for 40 years. JSW Neo Energy will receive a fixed payment of Rs 77.2 lakh per MW each year for the capacity provided. The project will be built in the Sonbhadra district of Uttar Pradesh. It is designed to release stored energy for up to eight hours each day, with a maximum of six hours straight. It is planned to start operating within the next six years.

With this agreement, the total amount of energy storage capacity that JSW has committed to has reached 28.3 GWh. Out of this, 26.4 GWh comes from pumped storage projects (PSP). The company is actively working towards its goal of having 40 GWh of energy storage capacity by the year 2030.