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NHPC looks to develop 22,000 MW pumped hydro storage projects

10 Aug 2023 , 01:39 PM

NHPC Ltd is looking into developing 20,000-22,000 MW of pumped hydro energy storage facilities in the years ahead. The company is reportedly exploring capacities in Maharashtra, Odisha, Andhra Pradesh, and Madhya Pradesh.

However, the comprehensive project study and permissions are anticipated to take several years before atleast some of these capacities will be operational. The company has not decided on a timeline yet as it will check the project feasibility first.

The company also envisions setting up solar energy capacities. However, currently, hydrogen power offers ample opportunities.

Pumped hydro storage and battery energy storage technologies have been designated by the government as critical for balancing the grid with renewable energy addition.

While battery energy storage solutions are expensive, resulting in higher electricity costs, pumped storage is economical and a low-hanging fruit with proven technology and a shorter time frame.

For the current fiscal year, NHPC’s annual capital expenditure target is Rs 10,000 crore. The capacity of the company’s consolidated hydro projects under construction is now 9,314 MW.

At around 1.29 PM, NHPC was trading 0.10% higher at Rs 49.55, against the previous close of Rs 49.50 on NSE. The counter touched a new 52-week high of Rs 50.25.

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