NHPC Limited and Department of Energy, Government of Maharashtra have signed a memorandum of understanding (MoU) for the development of pumped storage schemes and other renewable energy source projects in Maharashtra. The MoU envisages development of four pumped storage projects aggregating 7,350 MW capacity, namely Kalu – 1,150 MW, Savitri – 2,250 MW, Jalond – 2,400 MW and Kengadi -1,550 MW.
The MoU entails harnessing the pump storage projects as energy storage solutions to help achieve the national objective of energy transition, i.e., installed capacity of 500 GW of renewable energy by 2030 and net zero by 2070. Other renewable energy source projects will also be developed in the state under the agreement. This will be a stepping start for NHPC in the state of Maharashtra. These projects will attract an investment of about Rs 440 billion.
Earlier this month, NHPC and Vidhyut Utpadan Company Limited (VUCL), Nepal signed a MoU for development of the Phukot Karnali hydro electric project with a capacity of 480 MW in Nepal. VUCL, Nepal will be responsible to develop, build, own and operate large-scale hydropower projects in public-private partnership model in Nepal.