Greenko To Invest Rs 30,000 Crore To Set Up A Hybrid Project while Tata Power to Provide Green Energy

Greenko Group plans to invest Rs 30,000 crore to develop a hybrid project at Shahpur, Baran district of Rajasthan. It takes pride in seven gigawatt (GW) operational capacity and an eight gigawatt (GW) pipeline. A pumped hydro storage project of 2,520 megawatt (MW) capacity estimated to cost Rs 11,882 crore,  a part of the hybrid project allows energy from intermittent sources such as solar, wind and other renewables to be saved for periods of higher demand. It will be the first integrated project in the country with a combination of solar, wind and hydropower for uninterrupted power supply.

Anil Chalamalasetty, founder, managing director and chief executive officer, Greenko Group states that this initiative would achieve long-term stability and reduction of electricity prices by about 20 per cent in India and enables grid stability, security and feasibility for a future of carbon-free energy sector in the country.

TP Saurya Ltd has signed a power purchase agreement with Tata Steel to develop a 15 megawatt solar project at Jamshedpur in Jharkhand to be supplied to Tata Steel for a period of 25 years. The plant would generate an average of 32 million units of energy annually and would counter balance an average of 25.8 million kg of carbon dioxide, thus reaffirming Tata Group's commitment for sustainability. Tata Power has an operational capacity of 2,687 MW and together with 1,360 MW, which is under implementation, its renewable capacity would increase to 4,047 MW.