An MOU worth Rs 15,000 crore was signed between the Uttarakhand Government and JSW Neo Energy Limited. The MoU was signed during the road show of Uttarakhand Global Investor Summit in New Delhi. As per the MoU, JSW will develop two pumped storage of 1500 MW in Almora. This project will provide employment opportunities to 1000 people and also supply drinking water and irrigation facilities to a large population.
The scheme proposes a lower dam/reservoir at Joskote village of Almora, 8-10 km away from the Kosi river, and an upper reservoir at Kurchaun village of Almora, 16 km away from the Kosi river. This project will benefit the people by providing drinking water and irrigation facilities. Additionally, it will create employment opportunities for 1000 people.
The Uttarakhand Government has implemented the Uttarakhand Pumped Storage Project Policy to support the development of such projects in the state. This policy offers significant incentives to developers.
During the MOU signing, Secretary Dr. Meenakshi Sundaram, Shri Vinay Shankar Pandey, MD SIDCUL Shri Rohit Meena, and Director of JSW Neo Energy Limited Shri Gyan Badr Kumar were present.