New Delhi: NHPC, a government-owned hydro power company, announced on Wednesday that it has signed a preliminary agreement to build pumped hydro storage projects with a total capacity of 7,350 MW in Maharashtra.
The agreement includes setting up Pumped Storage Projects (PSPs) in Maharashtra with a combined capacity of 7,350 MW. It emphasizes survey, investigation, and Detailed Project Report (DPR) preparation, as well as adhering to Central and State Government policies for timely implementation, as per a company statement.
NHPC agreed to the MoU on September 3, 2024, in Mumbai with the Department of Water Resources, Government of Maharashtra, as per the statement.
This Memorandum of Understanding represents a major advancement in the progress of Pumped Storage Projects as energy storage options in Maharashtra, in line with the country's aim to reach 500 GW of renewable energy by 2030 and achieve Net Zero by 2070, according to the statement.
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