New Delhi, Feb 25 (UNI) Adani Green Energy Ltd (AGEL) on Tuesday said that it has received the Letter of Award (LoA) from Uttar Pradesh Power Corporation Ltd (UPPCL) for 1,250 MW energy storage capacity from pumped hydro storage projects (PSP).
The project, Panaura PSP, has a minimum commitment for 40 years. It will be located in the Sonbhadra district, Uttar Pradesh and is expected to be completed within the next six years.
As per the company, Adani Green has firm plans to add over 5 GW hydro PSP capacity by 2030 and it has already commenced the construction of its hydro pumped storage projects of 500 MW at Chitravathi river, in Andhra Pradesh, 1500 MW at Tarali in Maharashtra and 1800 MW at Gandikota in Andhra Pradesh.
“As one of the most cost-competitive, mature and scalable technologies, hydro PSP holds significant potential. Hydro PSPs use electrons generated from solar in the day to pump water and meet peak time energy demand at night through sustainable sources. Apart from being time-tested and domestically available, PSPs are also the cleanest and safest technology to store energy,” Adani Green said.
