Greenko Energy To Develop INR 30,000 Cr Solar + Pumped Hydro Storage Hybrid Project In Rajasthan

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Renewable energy firm Greenko Energy is all set to develop a Rs 30,000-crore hybrid project in Rajasthan of which one will be a pumped hydro storage project of 2,520 megawatt (MW) capacity estimated at Rs 11,882 crore. The facilities will store excess solar energy available in day time and the same can be availed even when there is a little or no sunshine.

The state government under Chief Minister Ashok Gehlot’s leadership has been advancing to establish the first of its kind Hybrid Project that will have solar, wind to generate energy and pump hydro storage capacity for the storage of the energy.

Greenko Group has a current operational capacity of about 7 gigawatt (GW) and a pipeline of about 8 GW.

“The project when completed by 2023-24 will be the world’s largest renewable energy asset and would contribute to the state’s efforts as a model in the adoption of solutions for a sustainable future,” said Anil Chalamalasetty, founder, managing director and chief executive officer, Greenko Group, in a press release.

“Integrated renewable energy storage projects would ensure achieving long-term stability and reduction of electricity prices by about 20 per cent nationally while enabling grid stability, security and feasibility for a future of deep decarbonisation of the country’s energy sector added Anil Chalamalasetty.

Notably, the Rajasthan Government has set the target of 30,000 MW Solar Power projects upto 2024-25. The generated power will be used by DISCOMs or other entities to meet their demand and for the fulfilment of the Renewable Purchase Obligation (RPO) as determined by RERC under the Solar Policy. State also aims to develop solar power projects for sale of power to parties other than DISCOMs of Rajasthan and for captive consumption, within and outside state.

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