VIJAYAWADA: Andhra Pradesh government has approved JSW Neo Energy's proposal to set up a 1,500 megawatt (MW) hydro storage power project at Bakkannavaripalli in Vempalli mandal of YSR district.
The hydro storage project is one of the six MoUs signed by JSW Group during the Global Investors’ Summit 2023. It has materialised within four months of the efforts launched by Chief Minister Y.S. Jagan Mohan Reddy to turn the summit’s MoUs into projects.
While approving Bakkannavaripalli along with seven other projects, the CM has instructed district collectors to ensure that 75 per cent of jobs at these projects go to the locals. The hydro storage project of the JSW group is expected to employ 1,500 people. Work on the project is scheduled to commence in December 2024.
Managing director of New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP), S. Ramana Reddy, said AP is ahead when it comes to setting up hydro storage plants in the renewable energy sector. “The project will address the energy requirements of the district and also address storage issues of renewable energy generated in the state,” he said.
Ramana Reddy underlined that the state government has prioritised development of pumped storage power plants in the state, as they have a proven record and globally opted in 95 per cent of cases. These plants can start and stop production of power within minutes, unlike thermal plants. NREDCAP is the nodal agency overseeing establishment of pumped storage plants. The agency has identified 30 sites for pumped storage projects with total capacity of 33,240 MW across the state.
The JSW plant is the second storage power plant in YSR Kadapa district, as Adani group has already started building the 1,000 MW Gandikota pumped storage project in the district.
