NHPC signs MoU with GPCL, Govt. of Gujarat; to invest ~ Rs. 4,000 crores in proposed 750 MW Kuppa Pumped Hydro Storage Project
Taking a step forward towards clean and green energy, NHPC has signed an MoU with Gujarat Power Corporation Limited, Government of Gujarat for investment in the proposed 750 MW Kuppa Pumped Hydro Storage Project. As per the MoU, NHPC will invest an estimated Rs. 4000 crores in the proposed project, situated at Chhota Udaipur, Gujarat.
NHPC and the Government of Gujarat plan to develop and utilize pumped hydro storage projects as an effective solution for energy storage. The implementation of this project will create significant employment opportunities and boost the local economy.
The MoU was signed at the Secretariat in Gandhinagar, Gujarat under the aegis of “Vibrant Gujarat”, on 3rd January, 2023. The agreement was signed by Managing Director, GPCL, Government of Gujarat, Shri Arun Mahesh Babu and Executive Director, Renewable Energy and Green Hydrogen, NHPC, Shri V.R. Srivastava; in the august presence of Chief Minister of Gujarat, Shri Bhupendra Patel and Energy Minister, Government of Gujarat, Shri Kanubhai Desai.
The MoU aims to contribute towards the national objective of clean and green energy, i.e. attainment of 500 GW of renewable energy capacity by 2030 and “Net Zero” target by 2070.
NHPC Limited is India’s leading hydropower company. NHPC has a total installed capacity of 7,097.2 MW of renewable energy (including wind and solar) through its 25 power stations, including 1,520 MW through subsidiaries. At present, NHPC (including subsidiaries and Joint Venture companies) is engaged in construction of 15 projects with an aggregate installed capacity of 10,449 MW.