Maharashtra: NHPC To Develop Rs 44,000 Crore Pumped Storage, Other Renewable Energy Projects

NHPC Limited and the Maharashtra government's Department of Energy have signed a Memorandum of Understanding (MoU) for the development of pumped storage schemes and other renewable energy source projects in the state.

The MoU envisages development of four pumped storage projects aggregating to a total capacity of 7,350 MW, namely Kalu – 1,150 MW, Savitri – 2,250 MW, Jalond – 2,400 MW and Kengadi -1,550 MW, the Ministry of Power said in a release on Wednesday (7 June).

Pumped Storage System utilises surplus grid power available from thermal power stations or other sources to pump up water from lower to upper reservoir and reproduces power during peak demand when there is scarcity of power.

Other renewable energy source projects too will be developed in the state under the agreement.

The MoU entails harnessing the pump storage projects as energy storage solutions to help achieve the national objective of Energy Transition, i.e., installed capacity of 500 GW of renewable energy by 2030 and Net Zero by 2070.

These projects will attract an investment of about Rs 44,000 crore and will generate indirect and direct employment for 7,000 people in the state, said NHPC CMD R K Vishnoi.