JSW Energy, a private-sector power producer in India, has proposed to invest in 1 GW of pump storage project and 1 GW of wind energy in the Indian state of Tamil Nadu.
Under the recent MoU signed with the Tamil Nadu government, JSW Energy will expand its existing footprints in Tuticorin and Tirunelveli districts with an investment of INR 12,000 crore (over $1.44 billion), contributing to the state’s sustainable development goals.
JSW Energy has a significant presence in the state. So far, it has invested over INR 9,000 crore in RE projects in Tamil Nadu. Out of 1,310 MW of projects committed, 350 MW has already been commissioned and the balance will be commissioned by June this year.
JSW Energy has set an ambitious target for a 50% reduction in its carbon footprint by 2030 and achieving Carbon Neutrality by 2050 by transitioning towards renewable energy. The Company aims to become a 20 GW power generating company along with 40 GWh/5 GW of storage capacity by 2030. It is also working towards achieving a solar module manufacturing capacity of 1 GW per year and a green hydrogen production capacity of 3,800 tonnes per annum by 2025. (This article was updated on Jan 8, 2023 with investment amount corrected to INR 12,000 crore.)
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