Hyderabad’s Greenko to Set Up Pumped Storage Project of 11 GWh in Madhya Pradesh

Hyderabad-based clean energy firm Greenko Group is set to invest Rs 10,000 crores in a Pumped Storage Project (PSP). The storage project is to be established near Gandhi Sagar in the Neemuch district of Madhya Pradesh. At present, the firm delves into both wind and solar of capacity of more than 500 MW. These are spread across various districts of Madhya Pradesh.

The pumped storage project will boast of a daily storage capacity of 11 GWh (Gigawatt hours) and will store infirm renewable electricity when the demand hours are leans. It will be despatched later to aid the state’s growing peak power demand, thereby promising cost savings.

In addition to meeting demand, the project will help Madhya Pradesh with its its statutory RPO (Renewable Power Obligation) while also helping the state meet its notified ESO (Energy Storage Obligation) targets.

The said project will create employment opportunities for more than 4,000 people. Greenko currently operates wind and solar of over 500 MW capacities, across five districts of Madhya Pradesh. To be commissioned in December 2024, the said project will be ISTS network-connected.

Greenko has been setting its sights on large energy storage projects. Recently last year, Greenko emerged as the lowest bidder by a significant margin for NTPC Renewable Energy’s auction to set up interstate transmission system (ISTS)-connected energy storage systems of 3,000 MWh capacity with a minimum of 500 MW capacity to be installed pan India. The firm also recently launched India’s first integrated green energy storage project, whereby solutions will be accessed though a cloud based platform for users who consume energy on large scale such as firms and DISCOMs.

Madhya Pradesh has also been increasingly focussed on accelerating its renewable energy share and is fast-emerging as a renewable hotspot. Amazon also set up its hybrid project in Madhya Pradesh. In October 2022, the state announced that it is looking at RE investments worth 50000 Cr by 2027.