Greenko Group plans to invest $8 bn in energy storage projects
Greenko Group is spearheading in integrated renewable energy storage space with overall 132 operational projects across 14 States in India. It is generating 20.5-terawatt-hour (TWh) of energy across wind (39 per cent), solar (17 per cent) and hydro (44 per cent) power. It has plans to build an intelligent, low cost energy cloud storage platform of 50GWh capacity by 2025.
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Kurnool: Greenko Group is spearheading in integrated renewable energy storage space with overall 132 operational projects across 14 States in India. It is generating 20.5-terawatt-hour (TWh) of energy across wind (39 per cent), solar (17 per cent) and hydro (44 per cent) power. It has plans to build an intelligent, low cost energy cloud storage platform of 50GWh capacity by 2025.
As a part of this, the company will be investing $3 billion in Integrated Renewable Energy Storage Project (IRESP) at Kurnool district. This is the first of the proposed four energy storage projects. The other projects are likely to come up in Karnataka, Madhya Pradesh and Rajasthan at a total investment of $5 billion by 2025, said Mahesh Kolli, President & JMD, Greenko Group.
He said, "While the projects in Karnataka and MP will be similar to the one coming up in AP, the Rajasthan one will be the largest with a 17,000-MWh storage capacity. It also plans to expand its energy storage capacities to 100 GWh, which involves setting up of another four projects by 2027. One of them will come up in Telangana, while other locations are yet to be identified."
Greenko bets big on water batteries also known as pumped storage hydropower. It plans to bring green hydrogen production systems of 10 GW by 2030. It currently has an installed renewable energy capacity of around 7.5 GW across wind, solar and hydro power across the country and has another 10GW renewable energy projects under development.
