Greenko Energy to develop Rs 30,000 cr hybrid project in Rajasthan

Renewable energy major Greenko is setting up a Rs 30,000 crore hybrid project in Rajasthan of which pumped hydro storage project will cost Rs 11,882 crore.

The project when completed by 2023-24 will be the world's largest renewable energy asset and contribute immensely to Rajasthan's efforts as a model state in adoption of solutions for a sustainable future," said l Chalamalasetty, Founder, Managing Director and CEO of Greenko Group.

The integrated renewable energy storage project will ensure achieving long-term stability and reduction of electricity prices by 20 per cent nationally while enabling grid stability, security and feasibility for a future of deep decarbonisation of Indian energy sector," he said.

Greenko Group has a current operational capacity of 7 gigawatts and a pipeline of 8 GW.

Chalamalasetty said integrated renewable energy storage projects combine wind energy, solar energy, pumped storage capacity with intelligent energy platforms deployed as a sharing platform.

"This transforms renewables into firm, schedulable and dispatchable new energy, thus paving the way for achieving energy security for Rajasthan and India," he said.

The state government has set a target of 30,000 MW solar power projects up to 2024-25. The generated power will be used by distribution compes (discoms) or other entities to meet their demand and for fulfilment of renewable purchase obligation as determined by Rajasthan Renewable Energy Corporation (RERC) under the solar policy.

Rajasthan also aims to develop solar power projects for sale of power to parties other than discoms and for captive consumption within and outside the state.

Meanwhile, Subodh Agarwal, Chairman and Managing Director of RREC, said a hydro storage project proposed at Shahpura in Baran district will be developed at a cost of Rs 11,882 crore. The facility will be a standalone pumped storage project of 2,520 MW.

It will use 1.7 thousand million cubic feet (TMC) of water but will not consume as it will be cycled between top and bottom reservoirs.

( With inputs from ANI )