NHPC, Torrent To Invest Rs 71,000 Crore On Energy Storage, Renewable Energy In Maharashtra

Highlights :

  • Both the companies have signed MoUs with the state government of Maharashtra.
  • NHPC will invest Rs 44,000 and Torrent will invest Rs 27,000 respectively on energy storage and renewable energy projects.
NHPC, Torrent To Invest Rs 71,000 Crore On Energy Storage, Renewable Energy In Maharashtra Avaada Bags 1 GW in NHPC 3 GW Solar Tender; Jakson, Sprng Energy, Hinduja Among Other Winners

Government owned hydropower major central PSU NHPC Ltd and Ahmedabad-headquartered Torrent Power have signed separate MoUs with the state government of Maharashtra for the development of storage projects and other renewable energy.

With regards to the deal signed by NHPC, the central PSU said in a regulatory filing that it will establish four energy storage systems along with other renewable energy sources like solar, wind and hybrid having a total capacity of 7,350 MW capacity. The information has been shared by NHPC in a regulatory filing before the BSE.

The energy storage projects are Kalu (1150 MW), Savitri (2250 MW), Jalond (2400 MW) and Kengadi (1550 MW). As per reports, the total investment in the storage and renewable expansion in Maharashtra by NHPC will be Rs 44,000 crores and creating about 7000 employment opportunities.

NHPC has not shared other financial details and project timelines in the regulatory filing.

Torrent’s Deal

Torrent Power has revealed that it will be developing projects that would attract an investment of Rs 27,000 crore providing employment to about 13,500 persons. Torrent said that it will be executing the projects over a period of 5 years.

Torrent will develop the projects in Maharashtra in Karjat (3,000 MW) in Raigarh district, Maval (1,200 MW) and Junnar (1,500 MW) in Pune district.  These are off-stream sites and the storage projects will be offering a minimum of  six hours of energy storage every day.

Last month, NHPC had issued twin tenders for the development of floating solar power projects having a total capacity of 350 MW. One EPC tender pertains for the development of 300 MW floating solar and associated 220 KV transmission line for connectivity at 400 KV grid substation at Rengali Reservoir at Angul, Odisha. The second EPC tender for 50 MW floating solar at West Kallada, Kollam, Kerala.

Last year, NHPC had promised to develop 10 GW of renewable energy in the state of Rajasthan to help expand the RE sector in the country while giving a thrust on Ultra Mega Renewable Energy Power Parks (UMREPP).

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