UPPCL

New Delhi: Adani Green Energy on Tuesday said its arm Adani Saur Urja has bagged an order from Uttar Pradesh Power Corporation (UPPCL) for procurement of 1,250 MW energy storage capacity from pumped hydro storage (PSP) projects. Adani Saur Urja, a wholly-owned subsidiary of the company, has received a Letter of Award (LOA) from UPPCL in this regard. The capacity is secured through the e-Reverse Auction conducted by UPPCL, a regulatory filing said. Also ReadEfforts to serve complaint on Gautam Adani, Sagar Adani ongoing: SEC tells US court According to the statement, the Annual Fixed Cost payable under the LOA stood at Rs 76,53,226 per MW per annum (taxes extra) for the entire period of 40 years from the commercial operation date. A company statement said that the project, Panaura PSP, has a minimum commitment for 40 years. It will be located in the Sonbhadra district, Uttar Pradesh and is expected to be completed within the next six years. India's clean energy goal necessitates the development of large utility-scale storage projects to integrate renewables into the grid and provide round-the-clock renewable energy, it stated. Aligned to the endeavor, Adani Green Energy has diversified its portfolio to include energy storage solutions in addition to its existing solar, wind and hybrid projects, it stated. Adani Green has firm plans to add over 5 GW hydro PSP capacity by 2030. The company has already commenced the construction of its hydro pumped storage projects of 500 MW at Chitravathi river, in Andhra Pradesh, 1500 MW at Tarali in Maharashtra and 1800 MW at Gandikota in Andhra Pradesh. As one of the most cost-competitive, mature and scalable technologies, hydro PSP holds significant potential. Hydro PSPs use electrons generated from solar in the day to pump water and meet peak time energy demand at night through sustainable sources. Apart from being time-tested and domestically available, PSPs are also the cleanest and safest technology to store energy. They offer numerous benefits such as grid stability, peak shaving, and flexibility in energy management. Additionally, hydro PSPs provide frequency regulation and reserve generation, making them a critical part of a robust and resilient energy infrastructure. AGEL currently has an operating renewable portfolio of 11.9 GW, the largest in India, spread across 12 states. The company has set a target of achieving 50 GW by 2030 aligned to India’s decarbonization goals.

UPPCL

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