The proposal from JSW Neo Energy to build a 1500 MW hydro storage power plant in Bakkannavari Palli in Vempalli Mandal, YSR district, has been approved by the government of Andhra Pradesh.

At the State Investment Promotion Board (SIPB) meeting, Chief Minister YS Jagan Mohan Reddy authorised eight projects, including this one.  

1,500 people will be employed and 3,314.93 million units of electricity will be produced annually by the JSW group's hydro storage project. The project is expected to start in December 2024.  

The hydro storage project is one of the six MoUs signed by the JSW Group during the Global Investors’ Summit 2023 – Advantage Andhra Pradesh in Visakhapatnam in March this year.  

S Ramana Reddy, Managing director of New & Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) said that the state is ahead when it comes to setting up of hydro storage plants and the renewable energy sector. “The project will address the energy requirements of the district and address the storage issues of renewable energy generated in the state,” said the Managing Director.