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NHPC Inks MoU with Maharashtra for Energy Storage and Renewable Energy Projects

NHPC Power Stations attained the production of 24,907 Million Units (MUs) of power during the fiscal year.

June 07, 2023. By Nivedita Ojha

State-run hydro power company NHPC Limited has commissioned a Memorandum of Understanding (MoU) with the Maharashtra government for the establishment of energy storage systems along with other renewable energy sources (Solar/ Wind/ Hybrid) of an overall 7,350 MW capacity.

NHPC is the largest hydropower development organization in India, with the capability to undertake all the activities in hydro-related projects.

At the end of May Month, it announced its gain for the fiscal year 2022-23.  It reported an amalgamated net profit for 2022-23 at INR 3,890 crores in contrast to INR 3,524 crore in 2021-22, with a rise of 10 percent.

NHPC Power Stations attained the production of 24,907 Million Units (MUs) of power during the fiscal year.

NHPC currently has an established capacity of 7097.2 MW from 25 power stations and as of now involved in developing 16 projects amounting to an overall established capacity of 10489 MW.

These projects will captivate an outlay of around INR 44,000 Crores and around 7000 direct and indirect employment opportunities across the State.

The MoU describes tapping the Pump Storage Projects as Energy Storage Solutions to reach the national objective of Energy Transition i.e. 500 GW of renewable energy by 2030 and Net Zero by the year 2070.

Moreover, it also has 12 projects with a total capacity of 5882 MW under the clearance phase and two projects with a total estimated capacity of 890 MW in the survey and investigation phase.
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