The Indian power generation and distribution company Torrent Power has received a letter of intent (LoI) from the Maharashtra State Electricity Distribution Company (MSEDCL) to procure 1.5 GW/12 GWh energy storage capacity from a pumped-storage hydropower project currently being develop in the Raigad District, in India’s Maharashtra State. MSEDCL will procure the energy storage capacity for 40 years. Under the facility agreement, it will make available to MSEDCL a contracted capacity of 1.5 GW capable of scheduled discharge of 8 hours per day. Torrent Power plans to install about 5 GW to 8 GW of hydro pumped storage capacity, investing between INR250bn (US$3bn) and INR350bn (US$4.2bn).
Earlier in September 2024, Maharashtra had signed Memorandums of Understanding with the central government-owned power utility NHPC and THCD, an affiliate of NTPC, to develop 10 pumped-storage hydropower projects in the state with a total capacity of 14.1 GW.
Hydropower accounts for 10% of India's total capacity at end-2023, with 52.1 GW, including 4.8 GW of pumped-storage. In late 2021, India announced 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.
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