Construction Industry News
The state energy producer, (NHPC), has signed an agreement with the Government of Maharashtra. Under the agreement, pumped storage hydro projects with a total capacity of 7,350 MW will be built, requiring an investment of Rs 440 billion. The Memorandum of Understanding (MoU) outlines the development of four pumped storage projects: Kalu (1,150 MW), Savitri (2,250 MW), Jalond (2,400 MW) and Kengadi (1,550 MW), as stated in an announcement from the Ministry of Energy.
In addition, the agreement includes the development of other renewable energy projects in the state. The statement said: "NHPC and the Ministry of Energy, Government of Maharashtra, have signed a memorandum of understanding for the development of pumped storage schemes and other renewable energy projects in Maharashtra."
The MoU aims to use the pumped storage projects as energy storage solutions to support the national target of achieving 500 GW of renewable energy capacity by 2030 and net zero emissions by 2070.
R.K. Vishnoi, Chairman and General Manager of NHPC, expressed his gratitude to the Government of Maharashtra for entrusting NHPC with the development of pumped storage schemes in the state. He said this opportunity would serve as an important milestone for NHPC in Maharashtra. In addition, he stressed that these projects would attract an investment of around Rs 440 billion and create direct and indirect employment for 7,000 individuals in the state.
The signing of the MoU took place in the presence of Devendra Fadnavis, the Deputy Prime Minister of Maharashtra. The agreement was signed by Biswajit Basu, Director (Projects) of NHPC, and Abha Shukla, Chief Secretary (Energy) of the Ministry of Energy, Maharashtra.
Pumped storage systems use excess mains power, obtained from thermal power plants or other sources, to pump water from a bearing to a higher reservoir. This stored water can then be used to generate power during peak demand when there is a shortage of electricity.
