India’s NHPC has sealed a Memorandum of Understanding (MoU) with Gujarat Power Corporation Limited (GPCL), Government of Gujarat, for a substantial investment in the 750MW Kuppa pumped storage hydropower project.
The MoU signing ceremony took place on January 3, 2024, at the Secretariat in Gandhinagar, Gujarat, in alignment with the "Vibrant Gujarat" initiative. The event was attended by Shri Bhupendra Patel, the Hon'ble Chief Minister of Gujarat, and Shri Kanubhai Desai, the Hon'ble Energy Minister of the Government of Gujarat. The agreement was inked by Shri Arun Mahesh Babu (IAS), Managing Director of GPCL, representing the Government of Gujarat, and Shri V.R. Srivastava, the Executive Director of Renewable Energy and Green Hydrogen at NHPC.
Under the terms outlined in the MoU, NHPC commits to injecting an estimated Rs 4000 crores into the proposed project, strategically located at Chhota Udaipur in Gujarat. This collaboration aligns with the broader national vision of achieving 500GW of renewable energy by 2030 and attaining a "Net Zero" target by 2070.
The joint efforts of the Government of Gujarat and NHPC aim to spearhead the development and utilization of pumped hydro storage projects, recognized as an effective solution for energy storage challenges. Beyond its environmental impact, the implementation of this project is anticipated to generate substantial employment opportunities and catalyze economic growth in the local community.
