The Uttar Pradesh government has given the green light to three pumped-storage power (PSP) projects in Sonbhadra district, saying it would boost the industrialization of the state, while ensuring adequate power availability. The three investment proposals, worth more than Rs 22,710 crore, will create job opportunities for more than 1,300 people, a government spokesman said.
โDuring the Global Investor Summit in February 2023, 19,000 investment attempts worth more than Rs 33 lakh crore were received. These MoUs also included the intentions of Greenko Group, JSW Neo Energy and Torrent Power for the establishment of off-stream pumped storage power (PSP) projects in the Sonbhadra district of the state,โ the spokesperson said.
The Greenko Group had submitted a proposal for the development of the "world's largest" off-current PSP project of 3660 MW capacity with an investment of Rs 17,180 crore at Sonbhadra.
Similarly, JSW Neo Energy has also proposed to develop another off-stream PSP project of 1200 MW capacity with an investment of Rs 5530 crore at Sonbhadra. Torrent Power's proposal included the development of a 2,400 MW capacity off-grid PSP project in Sonbhadra district with an estimated total investment of Rs 12 billion, according to the government spokesperson.
โOn May 6, a detailed review meeting was held with investors in the presence of all concerned departments such as Irrigation, Revenue, Energy, Forest, Sonbhadra District Magistrate and Mirzapur Commissioner under the chairmanship of the Infrastructure Commissioner. and Industrial Development in good luck now. After due consultation, blanket approval was provided for all projects,โ said a statement issued by the government on Sunday. Previously, the State Cabinet had encouraged the establishment of PSP projects within the framework of the Industrial
Infrastructure and Employment Promotion Policy 2022 that provides capital subsidy. โThe PSP is a clean, green and safe project and is also known as a water battery. It produces firm, flexible and distributable energy. In general, PSP projects have a longer lifespan, around 40-50 years. It does not negatively affect the riparian ecosystem because it is not in the main current of the river. The initial cost of establishment and the cost of storage is lower in these projectsโ, said the government spokesman.
