C Pradeep Kumar
Vijayawada
JSW Neo Energy’s proposal to establish a 1500 MW hydro storage power project in Bakkannavaripalli, Vempalli mandal, YSR district, has received approval from the Andhra Pradesh government.
The project was among the eight projects sanctioned by Chief Minister YS Jagan Mohan Reddy during the State Investment Promotion Board (SIPB) meeting held a few days ago.
The hydro storage project, initiated by the JSW group, is expected to generate 3,314.93 million units of power annually and provide employment opportunities for approximately 1,500 individuals. The project is slated to commence in December 2024.
During the SIPB meeting, the Chief Minister stressed the importance of ensuring the implementation of a special Act that guarantees 75% employment to local residents, directing district collectors to enforce it effectively.
This hydro storage project is the fallout of one of the six Memorandums of Understanding (MoUs) signed by the JSW Group at the Global Investors’ Summit 2023 – Advantage Andhra Pradesh, held in Visakhapatnam in March this year.
S Ramana Reddy, the Managing Director of New & Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP), highlighted that the State has taken the lead in establishing hydro storage plants and promoting the renewable energy sector. “The project will address the energy requirements of the district and help resolve the storage issues associated with renewable energy generated in the state,” stated the Managing Director.
The State government has placed significant emphasis on the development of pumped storage power plants.
Reddy said, “Pumped storage plants are the most widely adopted form of energy storage globally, accounting for 95% of cases. Unlike thermal plants, these storage plants can start and stop production within minutes.”
NREDCAP, the nodal agency overseeing the establishment of pumped storage plants, has identified 30 potential sites for such projects across the State, with a combined capacity of 33,240 MW.
In December last year, NREDCAP introduced the ‘Andhra Pradesh Pumped Storage Hydro Power Projects Policy 2022’ to facilitate the development of such projects.
The JSW plant will be the second storage plant in YSR Kadapa district, with the Adani group already underway in setting up the Gandikota Pumped Storage Project (1000 MW) in the same district.
