Renewable energy firm Greenko Energy is set to develop a Rs 30,000-crore hybrid project in Rajasthan of which one will be a pumped hydro storage project of 2,520 megawatt (MW) capacity estimated at Rs 11,882 crore.
The proposed hydro project is to be developed at Shahpur, Baran district of Rajasthan.
“The project when completed by 2023-24 will be the world’s largest renewable energy asset and would contribute to the state’s efforts as a model in the adoption of solutions for a sustainable future,” said Anil Chalamalasetty, founder, managing director and chief executive officer, Greenko Group, in a press release.
Greenko Group has a current operational capacity of about 7 gigawatt (GW) and a pipeline of about 8 GW.
He added that integrated renewable energy storage projects would ensure achieving long-term stability and reduction of electricity prices by about 20 per cent nationally while enabling grid stability, security and feasibility for a future of deep decarbonisation of the country’s energy sector.
Rajasthan Renewable Energy Corporation (RREC) has received several proposals for energy storage projects following the policy incentives.
“Among the projects seeking the policy advantage is a hydropower-based storage project proposed to be developed in Baran district of the state… It will be the first of its kind integrated project in the country with a combination of solar, wind and hydropower for uninterrupted power supply,” said Subodh Agarwal, chairman and managing director of RREC.
Rajasthan has set the target of 30,000 MW solar power projects upto 2024-25. The release added that the generated power will be used by discoms or other entities to meet their demand and for the fulfilment of the renewable purchase obligation as determined by RERC under the Solar Policy.
