Greenko Group to establish pumped storage facility worth 100 billion
POWER & RENEWABLE ENERGY

Greenko Group to establish pumped storage facility worth 100 billion

A Pumped Storage Project (PSP) will be built in Gandhi Sagar in the Neemuch District of Madhya Pradesh with an investment of INR 100 billion from Greenko Group, one of India's leading energy transition companies. The project would be built in the Neemuch district next to Gandhi Sagar, with a daily storage capacity of 11 GWh.

There will be significant cost savings as the unstable renewable electricity stored in the PSP project during lean demand hours will be later sent to help meet the state's changing peak power demand. Additionally, the PSP project will help MP state satisfy its legal RPO (Renewable Power Obligation) requirements as well as the recently announced ESO targets.

“The Group is committed towards transforming renewable energy from intermittent and inflexible energy to firm, dispatchable and on-demand energy controlled through digitization and long duration storage solutions to support the economy-wide shift towards carbon-free energy,” said Anil Chalamalasetty, CEO & MD, Greenko Group.

Over 4,000 individuals will reportedly be employed by the project. In Madhya Pradesh's five districts, Greenko now runs wind and solar power capacity with a total of more than 500 MW. By December 2024, Greenko's PSP is anticipated to be operational and connected to the ISTS Network.

A Pumped Storage Project (PSP) will be built in Gandhi Sagar in the Neemuch District of Madhya Pradesh with an investment of INR 100 billion from Greenko Group, one of India's leading energy transition companies. The project would be built in the Neemuch district next to Gandhi Sagar, with a daily storage capacity of 11 GWh. There will be significant cost savings as the unstable renewable electricity stored in the PSP project during lean demand hours will be later sent to help meet the state's changing peak power demand. Additionally, the PSP project will help MP state satisfy its legal RPO (Renewable Power Obligation) requirements as well as the recently announced ESO targets. “The Group is committed towards transforming renewable energy from intermittent and inflexible energy to firm, dispatchable and on-demand energy controlled through digitization and long duration storage solutions to support the economy-wide shift towards carbon-free energy,” said Anil Chalamalasetty, CEO & MD, Greenko Group. Over 4,000 individuals will reportedly be employed by the project. In Madhya Pradesh's five districts, Greenko now runs wind and solar power capacity with a total of more than 500 MW. By December 2024, Greenko's PSP is anticipated to be operational and connected to the ISTS Network.

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000