NHPC Ltd to Invest Rs 1.40-1.76 Trillion in Pumped Hydropower Storage Projects Across India

24 Jul 2023 , 11:16 AM

State-run NHPC Ltd, India’s premier hydropower utility, has set its sights on establishing pumped hydropower storage capacities ranging from 20,000 to 22,000 MW across the country over the next few years. According to Rajendra Prasad Goyal, the director of finance at NHPC, each megawatt capacity is estimated to require a capital expenditure of Rs 7-8 crore.

NHPC has already inked Memorandums of Understanding (MoUs) with several states, including Odisha, Madhya Pradesh, Maharashtra, and Andhra Pradesh, to execute massive pumped hydro projects. The implementation of these initiatives is expected to take off within the next two years.

In June, NHPC signed an initial agreement with an Odisha state utility to develop 2,000 MW of pumped storage and 1,000 MW of renewable energy projects. The MoU with Gridco Ltd aims to establish self-identified pumped storage projects.

Recently, NHPC entered into an agreement with Maharashtra to establish projects with a combined capacity of 7,350 MW. The MoU outlines the development of four pumped storage units: Kalu (1,150 MW), Savitri (2,250 MW), Jalond (2,400 MW), and Kengadi (1,550 MW).

NHPC is actively exploring pumped storage options with a target capacity of 20,000-22,000 MW. The focus on pumped storage projects aligns with the government’s policy push to promote renewable energy and grid stability.

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