National Hydroelectric Power Corporation signed an agreement with the Maharashtra government and the Department of Energy for projects involving pumped storage and other renewable energy sources

For the advancement of pumped storage projects and other renewable energy source projects in the state of Maharashtra, National Hydroelectric Power Corporation (NHPC) Limited and the Department of Energy, Government of Maharashtra, have signed a Memorandum of Understanding (MoU).

The MoU calls for the development of four pumped storage projects, including Kalu (1,150 megawatt (MW)), Savitri (2,250 MW), Jalond (2,400 MW), and Kengadi (1,550 MW), with a combined capacity of 7,350 MW. Further, it calls for utilising pump storage projects as energy storage solutions to assist in achieving the country's energy transition goal, which calls for 500 GW of installed renewable energy capacity by 2030 and Net Zero by 2070.

Mr. R.K. Vishnoi, Chief Managing Director (CMD), National Hydroelectric Power Corporation (NHPC) has expressed his gratitude to the Government of Maharashtra for reposing their trust in NHPC for the development of pumped storage schemes in the state. According to him, this will serve as NHPC's "stepping stone" into the state of Maharashtra. About US$ 5.33 billion (Rs. 44,000 crore) would be invested in these projects, and 7,000 people will be employed directly and indirectly as a result in the state.

In order to pump water from the lower to the upper reservoir during times of peak demand when electricity is scarce, the pumped storage system uses extra grid power from thermal power plants or other sources.

NHPC Limited is the largest hydropower development company in India and a Public Sector Enterprise of the Indian government. It has the capacity to carry out all project-related tasks, from conceptualization to commissioning. Moreover, NHPC has expanded its business interests to include the production of solar and wind energy. The company's mandate is to grow power effectively and comprehensively in all of its facets using conventional and non-conventional sources both domestically and internationally.

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