Greenko Group, a leading provider of renewable energy, will invest 10,000 crore to build a pumped storage project close to Gandhi Sagar in Madhya Pradesh’s Neemuch district. The project will be supported by notable investors including Abu Dhabi Investment Authority, Japan’s Orix Corp., and Singapore’s sovereign wealth fund GIC.
According to a press release, “the facility would be installed close to Gandhi Sagar in Neemuch district with a daily storage capacity of 11 GWh.”
There will be significant cost savings as the unstable renewable electricity stored in the pumped storage facility during low demand hours will be later sent to help meet the state’s changing peak power demand.
