Indian hydropower company NHPC Limited has entered into a Memorandum of Understanding (MoU) with the Department of Energy, Government of Maharashtra, to collaborate on the development of pumped storage schemes and other renewable energy projects in the state.
Under the MoU, NHPC and the Department of Energy will work together on the development of four pumped storage projects, with a combined capacity of 7350MW. The projects – Kalu (1150MW), Savitri (2250MW), Jalond (2400MW), and Kengadi (1550MW), aim to harness the potential of renewable energy sources in Maharashtra. Additionally, the collaboration will extend to other renewable energy source projects in the state.
Speaking about the partnership, Sh. R.K. Vishnoi, Chairman and Managing Director of NHPC, expressed gratitude to the Government of Maharashtra for entrusting NHPC with the responsibility of developing pumped storage projects in the state. He emphasized that this collaboration marks a significant milestone for NHPC's operations in Maharashtra. The projects are expected to attract an investment of approximately Rs. 44,000 Crores and create around ,000 direct and indirect job opportunities in the state.
The primary objective of the MoU is to leverage pumped storage projects as energy storage solutions, in line with India's national goal of achieving 500GW of renewable energy by 2030 and reaching net-zero emissions by 2070. By combining the capabilities of NHPC and the expertise of the Maharashtra government, the partnership aims to contribute to the country's energy transition efforts and promote a greener and more sustainable future.
