Connect with us

Hi, what are you looking for?

CleanTechnica
Image courtesy of NREL.

Energy Storage

Greenko Lands Two Deals For India Pumped Hydro Storage Project

India-based renewable energy developer Greenko has signed two deals for its pumped hydropower storage project.  According to media reports, one of India’s largest industrial conglomerates, Adani Group, recently signed an agreement with Greenko for using the latter’s pumped hydropower storage capacity. Adani will utilize around 6 gigawatt-hours of storage capacity for its industrial complex. 

In another deal, an Indian joint venture company of ArcelorMittal and Nippon Steel will procure 250 megawatts of round-the-clock renewable energy from Greenko. ArcelorMittal Nippon Steel India (or AM/NS India) will invest in and own a part of the 975 megawatt renewable energy plus storage project in the state of Andhra Pradesh. Last year, ArcelorMittal had announced aggressive plans to boost renewable energy procurement in India. 

AM/NS India will buy this power for a period of 25 years. It will be able to meet 20% of its electricity requirement from this power supply and also enable it to offset 1.5 million tonnes of carbon dioxide emissions every year. The project is expected to be completed in 2024. 

The project will be eligible for exemption from transmission charges levied on power supplied across states. India’s ministry of power offers this incentive for a period of 25 years to all renewable energy projects commissioned by 30 June 2025. 

“Without long duration storage, energy transition at large scale will take much longer period. Decarbonisation is not just critical from an climate change perspective but also for India’s energy security. Price of imported LNG gas used by industrial users has touched $18-$20/mmBtu range and as importers we have no control over prices,” said Anil Chalamalasetty, Managing Director Greenko.

Heavy industries in India are increasingly looking to enhance share of renewable energy in their power procurement mix and reduce greenhouse gas emissions. Apart from these proactive measures, Indian policy also requires these companies to enhance their renewable energy procurement. The government recently announced that heavy industries like steel, petroleum, and fertilizers would be required to use green hydrogen. 

 
Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Electrifying Industrial Heat for Steel, Cement, & More


I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps — gasp — grow. So ...
If you like what we do and want to support us, please chip in a bit monthly via PayPal or Patreon to help our team do what we do! Thank you!
Written By

An avid follower of latest developments in the Indian renewable energy sector.

Comments

You May Also Like

Cars

BYD has partnered with New Delhi based EV cab service Evera. BYD will deliver 100 e6 station wagon EVs. Evera provides app-based cab services...

Clean Power

One of India’s largest renewable energy companies, Tata Power Renewable Energy, has entered into a power purchase agreement for a solar-wind hybrid project.  The...

Clean Power

Indian solar module manufacturer Insolation Solar has secured funding from a World Bank-backed fund for expansion of its production line.  The funding was released...

Buildings

We've already manufactured an awful lot of steel. There are hundreds of billions of tons of the stuff lying around, much of it obsolete.

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.

Advertisement