Greenko plans to build India’s first off-river energy storage project, in the state of Andhra Pradesh, at a cost of Rs 7,600 crore. The debt component of Rs 5,500 crore is being funded by Power Finance Corporation (PFC). An off-river energy storage project involves construction of two large water reservoirs at two ends of a gradient on a stretch of land. During the day, the storage facility uses solar energy to pump the water from the bottom reservoir to the top. At night the water is pumped down to generate hydro energy. The capacity of the storage facility is 1,200 MW.
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Note: The above-mentioned news was first published by us in our ProjectX India | 15th August 2022 edition. Click here to buy this issue. Access Energy Storage news, projects, tenders, and contract award information in each fortnightly issue of ProjectX India PDF version. Go for an annual subscription and get access to 24 issues in a year.