New and Renewable Energy Minister Hardeep Singh Dang said that Madhya Pradesh will create its own special place in the country in pumped hydro storage projects.
According to the assessment made by the Central Electricity Authority, the capacity of 11.2 Gigawatt pumped hydro storage projects is available for development in Madhya Pradesh.
Today, the Cabinet has decided to implement the pumped hydro storage projects and execute the tender process.
Many facilities and concessions will be available
In order to encourage the pumped hydro storage project, registered projects will be given incentives and benefits including exemption under Madhya Pradesh Renewable Energy Policy-2022 in proposed electricity fee and energy development undertaking, reimbursement of stamp duty, exemption in wheeling charges, exemption in registration-cum-facilitation fee and government land with the right to use at cent percent circle rate.
Minister Shri Dang said that there is also immense potential in the state in a new category of pumped hydro storage projects – ‘off river hydro storage’ projects. Pumped storage plan has been prepared for systematic development of this capacity. With this, apart from green energy, investment and employment opportunities will also get a boost in the state. The site for the project will be selected by the nodal agency.
Pumped hydro storage projects will be developed in various ways. First – by inviting tender for sale or captive use to third party consumers in the exchange from Opar Express and second – by inviting tender for purchase of power by MPPMCL. The various activities of the project will be completed as per the maximum time frame of 6 years. Its progress will also be reviewed from time to time.
