In a significant development for Uttarakhand’s energy and infrastructure sector, the state government has inked a momentous Memorandum of Understanding (MoU) valued at ₹15,000 crore with JSW Neo Energy Limited during the Global Investor Summit’s roadshow in New Delhi on Wednesday.
The MoU, which was signed in the esteemed presence of Uttarakhand’s Chief Minister, Pushkar Singh Dhami, outlines plans for the creation of two pumped storage facilities each with a substantial 1500 MW capacity located in the Almora region. This ambitious endeavor is expected to span over a duration of 5-6 years.
The proposed project involves the establishment of a lower dam and reservoir, located approximately 8-10 kilometers from the Kosi river at Site 1 in Joskote village of Almora, while the upper reservoir will be situated at Site 2 in Kurchaun village of Almora, around 16 kilometers from the Kosi river. This initiative is not only set to provide a robust source of drinking water supply to a considerable population but also aims to bolster irrigation facilities for agriculture. Moreover, the project is anticipated to generate employment opportunities for approximately 1,000 individuals, as stated by the Uttarakhand government.
In addition to the pumped storage facilities, the MoU encompasses collaboration in various sectors, including cement production, sports development, training centers, drinking water initiatives, and the restoration and beautification of temples in the Kumaon region, particularly the Manaskhand Temple Mala.
To support and incentivize the development of pumped storage projects within the state, the Uttarakhand government has formulated the Uttarakhand Pumped Storage Project Policy, which offers substantial incentives to prospective developers. This landmark agreement signifies a significant stride towards bolstering Uttarakhand’s energy infrastructure and is poised to have far-reaching positive impacts on the region’s economy and development. Key figures in this pivotal moment included Secretary Dr. Meenakshi Sundaram, Vinay Shankar Pandey, MD SIDCUL, Rohit Meena, and Director of JSW Neo Energy Limited, Gyan Badr Kumar.
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