NHPC Commits Rs 4,000 Crore Investment in Gujarat's 750 MW Kuppa Hydro Storage Project

5 Jan 2024 , 12:37 PM

In a significant move towards sustainable energy, NHPC, headquartered in New Delhi, has entered into a preliminary agreement to invest Rs 4,000 crore in the 750 MW Kuppa Pumped Hydro Storage Project located at Chhota Udaipur in Gujarat.

The company recently inked a Memorandum of Understanding (MoU) with Gujarat Power Corporation (GPCL) on January 3, 2024, marking a commitment to invest in the Kuppa Pumped Hydro Storage Project as part of their efforts to promote clean and green energy, stated the company in a press release.

According to the announcement, the MoU was inked during an event hosted by 'Vibrant Gujarat' at the Secretariat in Gandhinagar.

The NHPC would spend an estimated Rs 4,000 crore in the proposed 750 MW Kuppa Pumped Hydro Storage Project in Chhota Udaipur, Gujarat, according to the provisions of the MoU.

According to the statement, the completion of this project would offer major job possibilities and strengthen the local economy in the area.

NHPC Ltd is India's foremost hydropower firm, having a total installed renewable energy capacity of 7,097.2 MW through its 25 power plants, including 1,520 MW through subsidiaries.

The Memorandum of Understanding (MoU) signing ceremony took place with the presence of Gujarat Chief Minister Bhupendra Patel and State Energy Minister Kanubhai Desai.

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