UPERC Approves ₹7.71 Million/MW Tariff for UPPCL's 1,500 MW Pumped Hydro Storage Project
The Uttar Pradesh Electricity Regulatory Commission (UPERC) has approved a tariff of ₹7.71 million (~$85,634)/MW/annum for the Uttar Pradesh Power Corporation Limited (UPPCL) to procure power from a 1,500 MW pumped hydro storage project developed by JSW Neo Energy PSP Six. This follows a tender issued by UPPCL in February 2024 and a reverse auction in November 2024, with the project aimed at enhancing future demand and system balancing in the Sonbhadra district of Uttar Pradesh.
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The Uttar Pradesh Electricity Regulatory Commission (UPERC) has approved a tariff of ₹7.71 million (~$85,634)/MW/annum for Uttar Pradesh Power Corporation Limited (UPPCL) to procure power from 1,500 MW of pumped hydro storage projects. The approval includes a power purchase agreement between UPPCL and JSW Neo Energy PSP Six, executed on April 30, 2025.
UPPCL initially issued a tender in February 2024 for 2,000 MW of pumped-hydro storage under a 40-year contract, with tariffs based on capacity charges linked to specific performance metrics. After a reverse auction in November 2024, JSW Energy PSP Six was awarded the contract for 1,500 MW capacity, with the letter of award issued in February 2025. The project will be developed in Sonbhadra district, Uttar Pradesh, and is expected to support future demand and system balancing needs.
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