 "Pumped storage projects may create 7,000 jobs in Maharashtra: NHPC")
NHPC Ltd and the Department of Energy, government of Maharashtra have partnered to work on a pumped storage project, which could attract Rs 44,000 crore in investment and employ 7,000 people. This partnership is a step towards advancing renewable energy projects in the state and aims to promote the development of pumped storage schemes and other renewable energy ventures.
NHPC-Maharashtra govt MoU
The collaboration was formalised through a memorandum of understanding (MoU) signed between NHPC and the Maharashtra government.
The MoU sets the stage for the establishment of four pumped storage projects, which will have a combined capacity of 7,350 MW. These projects, namely Kalu (1,150 MW), Savitri (2,250 MW), Jalond (2,400 MW), and Kengadi (1,550 MW), will contribute to the state's renewable energy goals. Additionally, the partnership will facilitate the development of other Renewable Energy Source Projects across Maharashtra.
The MoU signing ceremony took place in the presence of Devendra Fadnavis, the Deputy Chief Minister of Maharashtra. The Director (Projects) of NHPC, Biswajit Basu, and the Principal Secretary (Energy) of the Department of Energy, Government of Maharashtra, Abha Shukla, signed the agreement. Uday S. Nirgudkar, Independent Director of NHPC, Rajat Gupta, Executive Director (SBD & C) of NHPC, and other senior officials from both organisations were also present during the event.
Pumped storage project
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Pumped storage systems work as energy storage solutions, utilising surplus power from sources such as thermal power stations. The excess electricity is used to pump water from a lower reservoir to an upper reservoir. Later, during peak demand periods when power supply is limited, the stored water is released to generate electricity.
National implications
The collaboration between NHPC and the Maharashtra government is aligned with the state's renewable energy objectives and also supports the national vision of achieving 500 GW of installed renewable energy capacity by 2030. Furthermore, it contributes to the larger global goal of achieving Net Zero emissions by 2070.
R K Vishnoi, the chairman and managing director of NHPC, stated to the Ministry of Power that these projects would attract significant investments of around Rs 44,000 crores and generate both direct and indirect employment opportunities for approximately 7,000 people in Maharashtra.
The ministry also highlighted how well Maharashtra is positioned to contribute to India's renewable energy targets and combat climate change on a larger scale.