India’s state-owned National Hydroelectric Power Corporation (NHPC) has signed a Memorandum of Understanding (MoU) with the Grid Corporation of Odisha (GRIDCO) to develop at least 2 GW of pumped-storage hydropower capacity and 1 GW of solar projects (ground-mounted or floating solar) in the Indian State of Odisha.
Earlier in June 2023, NHPC signed another MoU with the government of Maharashtra for the development of four pumped-storage hydropower projects totalling 7,350 MW across the State of Maharashtra.
The pumped storage projects are considered as energy storage solutions to help achieve India’s national objective of energy transition, which targets 500 GW of installed renewable capacity by 2030 and net zero by 2070. At the national level, India plans to add 79 hydropower projects with a total capacity of 30 GW, including 11 pumped-storage projects totalling 8.7 GW, during the period 2019-2020 to 2029-2030. The country has an installed pumped-storage capacity of 4.8 GW (end of 2021). Hydropower accounts for 12% of India's total capacity, with 51.4 GW.
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