The turnaround can be attributed to investor friendly policy, akin to the one that the Government of India took in 1991 with the New Economic Policy. The several steps that Telangana took includes: speedy clearance aided by a single window, 100 per cent refund on VAT and GST, refund on stamp duty, exemption from Land Ceiling Act, exemption from electricity wheeling charges and not running around to get approval from the State Pollution Control Board.
The most visible area of the state’s renewable energy push has been in public transport system. The Telangana State Road Transport Corporation (TSRTC) for instance teamed up with TSREDCO to install solar rooftop systems on the bus stations, bus depots and workshops. In all, 97 bus depots and 364 bus stations have been covered and the savings are over Rs 2 crore per annum. What is more! It resulted in reduction in carbon emissions by 7,300 tonnes a year.
To setup pumped storage project
IndiGlobal Bureau
JSW Neo Energy, a subsidiary of JSW Energy, has announced setting up of a Pumped Storage Project in Telangana, with an investment of INR 9,000 crore at Telangana Pavilion at the World Economic Forum being held at Davos.
A Memorandum of Understanding (MoU) was signed between the State Government of Telangana and JSW Neo Energy at a meeting here at the World Economic Forum. Sajjan Jindal, Chairman, JSW Group, met with Chief Minister of Telangana, A. Revanth Reddy on the side lines of WEF and announced the plan for setting up the project. The proposed Pumped Storage Project will have energy generation capacity of 1,500 MW.
Headquartered in Mumbai, JSW Energy is an integrated power company that generates, transmits, and trades electricity from thermal, hydro, and solar sources. As a leading private sector power company in India, it has an operational capacity of 4,559 MW and is the country’s largest Independent Hydro Power Producer (IPP).
JSW Neo Energy, a wholly owned subsidiary of JSW Energy that focuses on renewable and new energy solutions, will be responsible for setting up the proposed project in Telangana.
Chief Minister A. Revanth Reddy assured JSW of all the necessary support for the Pumped Storage Project and said that the proposed project is aligned with the State’s focus on promoting renewable energy. The Chief Minister further stated that JSW is a key partner for the State in its journey towards clean and green energy and the Government is keen to collaborate with JSW for their future projects in India.
Sajjan Jindal said that JSW is rapidly expanding in India and aims to further grow its presence in the State. Minister for Industries and ITE&C D. Sridhar Babu, Principal Secretary ITE&C, I&C Jayesh Ranjan, and Special Secretary, Investment Promotion, Vishnu Vardhan Reddy were also present during the meeting.