New Delhi, Jan 4 (PTI) NHPC has inked an initial pact to invest Rs 4,000 crore in 750 MW Kuppa Pumped Hydro Storage Project at Chhota Udaipur in Gujarat.
Taking a step towards clean and green energy, NHPC signed a Memorandum of Understanding (MoU) with Gujarat Power Corporation (GPCL) for investment in Kuppa Pumped Hydro Storage Project (750 MW) on January 3, 2024, a company statement said.
According to the statement, the MoU was signed at an event organised at the Secretariat in Gandhinagar under the aegis of 'Vibrant Gujarat'.
In the presence of Gujarat Chief Minister Bhupendra Patel, and state Energy Minister Kanubhai Desai, the MoU was signed by Arun Mahesh Babu, Managing Director, GPCL, and V Srivastava, Executive Director, Renewable Energy and Green Hydrogen, NHPC, the statement said.
As per the terms of the MoU, the NHPC shall invest an estimated Rs 4,000 crore in the proposed 750 MW Kuppa Pumped Hydro Storage Project at Chhota Udaipur, Gujarat.
The implementation of this project will create significant employment opportunities and boost the local economy in the area, the statement said.
The NHPC Ltd is India's leading hydropower company with a total installed capacity of 7,097.2 MW of renewable energy through its 25 power stations, including 1,520 MW through subsidiaries.