In a significant stride towards sustainable energy, NHPC, India’s leading hydropower company, has inked a Memorandum of Understanding (MoU) with Gujarat Power Corporation Limited, Government of Gujarat, to invest in the proposed 750 MW Kuppa Pumped Hydro Storage Project. The estimated investment for this venture is Rs. 4000 crores, positioning it in Chhota Udaipur, Gujarat.
The collaboration between NHPC and the Government of Gujarat is aimed at developing pumped hydro storage projects as an efficient solution for energy storage. This initiative is expected to generate substantial employment opportunities, providing an economic boost to the local community.
The MoU, signed at the Secretariat in Gandhinagar on January 3, 2023, falls under the umbrella of the “Vibrant Gujarat” initiative. Arun Mahesh Babu, Managing Director of GPCL, Government of Gujarat, and V.R. Srivastava, Executive Director of Renewable Energy and Green Hydrogen at NHPC, formalised the agreement in the presence of Chief Minister Shri Bhupendra Patel and Energy Minister Shri Kanubhai Desai.
Aligned with the national goal of achieving 500 GW of renewable energy capacity by 2030 and the “Net Zero” target by 2070, this MoU is a strategic move towards cleaner and greener energy sources.
NHPC Limited currently boasts a total installed capacity of 7,097.2 MW in renewable energy, encompassing hydropower, wind, and solar, across 25 power stations, including 1,520 MW through subsidiaries. The company, along with its subsidiaries and Joint Venture companies, is concurrently engaged in the construction of 15 projects, collectively contributing to an installed capacity of 10,449 MW.
