The Greenko Group has said it will invest ₹100 billion (~$1.2 billion) in setting up a pumped storage project in the Neemuch district of Madhya Pradesh.

The daily storage capacity of the pumped hydro storage would be 11 GWh, the company said.

The in-house renewable power stored in the project during low-demand hours will be dispatched to help meet Madhya Pradesh’s peak electricity demand, yielding significantly lower power costs.

The pumped hydro storage project will be connected to the inter-state transmission system network and is expected to be commissioned in December 2024.

It will support Madhya Pradesh meet its renewable power purchase and energy storage obligation announced by the Ministry of Power last July.

Greenko said the project will generate over 4,000 jobs.

The company currently operates more than 500 MW of wind and solar capacities spread across the state.

With an installed renewable capacity of ~7.5 GW across wind, solar and hydro capacities, Greenko has approximately 10 GW of projects under development.

CEO & MD of Greenko Group Anil Chalamalasetty said, “We are committed to transforming renewable energy from intermittent and inflexible energy to firm, dispatchable, and on-demand energy controlled through digitization and long duration storage solutions to support the economy-wide shift towards carbon-free energy. Madhya Pradesh’s favorable topography and resources along with world-class infrastructure will help us build this project in a cost-effective and timely manner.”

Currently, Greenko is building a 50 GWh energy cloud storage platform which is scheduled for commissioning by 2025.

In December 2022, Greenko’s subsidiary, Greenko Energies won the NTPC Renewable Energy’s auction to set up 3,000 MWh ISTS-connected energy storage systems with a minimum of 500 MW capacity to be installed anywhere across the country.

Last August, Aditya Birla’s aluminum and copper flagship Hindalco Industries inked a commercial pact with Greenko Energies to deploy a captive renewable energy project for the supply of 100 MW round-the-clock carbon-free power to Hindalco’s Aditya Aluminum Smelter in Odisha.