Govt green-lights 3 pumped storage power projects for Sonbhadra district
Infrastructure & Employment Promotion Policy 2022 providing capital subsidy. “The PSP is a clean, green and safe project and is also known as a water battery.
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The Uttar Pradesh government has given a green signal to three stream Pumped Storage Power (PSP) projects in Sonbhadra district, saying it would boost industrialisation of the state, while ensuring adequate power availability. The three investment proposals, worth more than Rs 22,710 crore, will generate employment opportunities for more than 1,300 people, a government spokesperson said.
“During the Global Investors’ Summit in February 2023, 19,000 investment intents worth more than Rs 33 lakh crore were received. These MoUs also included intents from Greenko Group, JSW Neo Energy, and Torrent Power for the establishment of off-stream Pumped Storage Power (PSP) projects in Sonbhadra district of the State,” said the spokesperson.
The Greenko Group had submitted a proposal for the development of the “world’s largest” off-stream PSP project of 3660 MW capacity with an investment of Rs 17,180 crore in Sonbhadra.
Similarly, JSW Neo Energy also proposed to develop another off-stream PSP project of 1200 MW capacity with an investment of Rs 5,530 crore in Sonbhadra. The Torrent Power’s proposal included developing a 2400 MW capacity off-stream PSP project in Sonbhadra district with a total estimated investment of Rs 12,000 crore, according to the government spokesperson.
“On May 6, a detailed review meeting with investors in the presence of all the stakeholder departments, such as Irrigation, Revenue, Energy, Forest, Sonbhadra District Magistrate, and Mirzapur Commissioner was held under the chairmanship of Infrastructure and Industrial Development Commissioner in Lucknow. After due consultation, an in-principal approval was provided for all the projects,” a statement issued by the government on Sunday said. Earlier, the State Cabinet had incentivised the establishment of PSP projects under the Industrial
Infrastructure & Employment Promotion Policy 2022 providing capital subsidy. “The PSP is a clean, green and safe project and is also known as a water battery. It produces firm, flexible and dispatchable power. Generally, the PSP projects have a longer life span of around 40 to 50 years. It doesn’t adversely affect the riverine ecosystem due to not being on the main river stream. The upfront cost of establishment and cost of storage is less in these projects,” the government spokesperson said.
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