Greenko Group and Hindalco Industries, a manufacturer of aluminium, have agreed to establish a green energy project in Odisha with a capacity of 375 MW to 400 MW. Both companies have entered into a commercial agreement to establish a renewable energy project to supply 100 MW of carbon free power around the clock.The project will include wind and solar capacity and will provide power to Hindalco’s aluminium smelter in Odisha.
Greenko has announced that it will design, build, own, and operate solar and wind facilities. To ensure continuous power supply, the company will also make appropriate storage capacity available from its hydro pump storage project in Pinnapuram, Andhra Pradesh. The project will be set up as a captive generation facility under a 25-year offtake agreement to supply power to Hindalco’s Aditya aluminium smelter in Odisha, allowing for a 680,000 tonnes reduction in carbon dioxide emissions each year.
Earlier this month, Greenko secured a Rs 55 billion loan from Power Finance Corporation, a public sector undertaking to construct a river energy storage project in Andhra Pradesh.The storage facility has a capacity of 1,200 MW. The project for off-river energy storage entails the construction of two large water reservoirs at opposite ends of a gradient on a land area.