Welspun New Energy signs MoU for 1.2 GW pumped hydroelectric storage project in Maharashtra

B Ok Goenka
| Picture Credit score: KAMAL NARANG

Welspun New Vitality mentioned it had signed a Memorandum of Understanding (MoU) with the Authorities of Maharashtra (Division of Water Sources), to develop 1.2 GW pumped hydroelectric storage challenge with an funding of roughly ₹5,000 crore. 

Named ‘Dhamni Pumped Hydro challenge’, this challenge is predicted to reinforce the nation’s power storage capability and assist the mixing of renewable power into the grid, the corporate mentioned. 

B.Ok. Goenka, Chairman, Welspun World, mentioned, “This challenge is a big milestone in our efforts to drive renewable power adoption in Maharashtra. By harnessing the facility of pumped storage we’re not solely contributing to the State’s power safety but additionally creating inexperienced employment alternatives and driving socio-economic progress within the area.”

The 1.2 GW Pumped Hydro challenge can be constructed in Pune and Raigad districts with a complete funding of roughly ₹5,000 crore over the following 6-7 years.

Kapil Maheshwari, Government Director & CEO, Welspun New Vitality Ltd., mentioned, “The challenge can be useful in rising the renewable penetration within the grid and supply stability to the intermittency of renewable power technology. Additional, the challenge additionally supplies a possibility for lengthy period power storage to handle variable provide and variable demand and can improve Grid stability.”