The partnership will help expand NTPC’s portfolio in various segments of bundled renewable energy
NTPC Limited announced that its wholly-owned subsidiary NTPC Vidhyut Vihar Nigam Limited (NVVN) signed a Memorandum of Understanding (MoU) with Greenko Energies Private Limited to explore opportunities to supply round-the-clock (RTC) renewable energy.
The partnership would meet the evolving requirements of DISCOMs and other power consumers in India in real-time.
Pumped hydro storage (PHS) projects are used to pump water into uphill reservoirs from lower elevations to generate power through water turbines from the force of water flowing back downhill. PHS projects can be used to supply round-the-clock renewable energy when wind or solar energy production drops. It can also help satisfy the increased power demand during peak hours.
According to Greenko, it is developing over 40 GWh of pumped hydro storage projects across six states in India.
In June 2020, the Government of Andhra Pradesh approved the establishment of an integrated renewable energy project at Pinnapuram village in Kurnool district by Greenko Energies Private Limited. Greenko would set up 1.2 GW of standalone pumped storage capacity as a part of the project.
According to Greenko, it currently has a total asset base of 6.4 GW (including both operational and near-term portfolio).
It added that these projects would offer one of the lowest cost storage solutions at around $85 (~₹6,317)/MW compared to the cost of battery storage systems that are imported at nearly $200(~₹14,867)/MW and have a limited life.
Recently, the Ministry of Power issued guidelines for the procurement of round-the-clock power from grid-connected renewable projects complemented with power from thermal power projects.
Earlier, the Ministry of New and Renewable Energy came up with a draft plan to supply RTC power from renewable (solar, wind, and hydro) projects, which will be complemented with power from thermal projects.