NHPC Signs MoU with Maharashtra Government for Pumped Storage and Renewable Energy Projects

A Memorandum of Understanding has been signed between NHPC Ltd and Department of Energy, Government of Maharashtra for the development of Pumped Storage schemes and other Renewable Energy Source projects in the state of Maharashtra.

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. 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.

CMD, NHPC R.K. Vishnoi expressed his gratitude to the Government of Maharashtra for reposing their trust in NHPC for development of Pumped Storage Schemes in the state. He said that this will be a stepping start for NHPC in the state of Maharashtra. These projects will attract an investment of about Rs. 44,000 crores and will generate indirect and direct employment for 7,000 people in the state, he added.

The MoU was signed in the presence of Deputy Chief Minister, Govt. of Maharashtra, Devendra Fadnavis. The MoU was signed by Director, (Projects), NHPC Biswajit Basu and Principal Secretary (Energy), Department of Energy, Govt. of Maharashtra, Abha Shukla. Independent Director, NHPC, Uday S. Nirgudkar; Executive Director (SBD & C), NHPC, Rajat Gupta and other senior officers from both the organizations were also present during the occasion.

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.