Andhra Pradesh CM performs First Concrete Pour for World’s largest Integrated Renewable Energy Storage Project

  • 5,230 MW largest integrated renewable energy storage project at Kurnool, AP
  • RE storage capacity of 10,800 MWh per day, which can integrate 6 GW of wind and solar capacity
  • Project investment of over US$3.0 billion towards pumped storage, solar & wind capacity
  • 15 million tonnes of CO2 avoided annually, equivalent to emissions from 3 million cars

KURNOOL, India, May 17, 2022 /PRNewswire/ — Shri Y. S. Jagan Mohan Reddy, Hon’ble Chief Minister of Andhra Pradesh, today performed the “first concrete pour ceremony” of the world’s largest Integrated Renewable Energy Storage Project (IRESP); being implemented by Greenko Group, at Kurnool District, Andhra Pradesh. The 5,230 MW Integrated Renewable Energy Storage Project will play a pivotal role in India attaining energy security and enable global energy transition.

This is a first-of-its-kind single location energy storage project with wind and solar capacities. This project is being implemented with an investment of over US$3.0 billion comprising Pumped Storage (10,800 MWh of daily storage), Solar (3000 MW) and Wind (550 MW).

Shri Y S Jagan Mohan Reddy, Hon’ble Chief Minister of Andhra Pradesh said, “Today, history is being created with Greenko’s project and I believe it will be a trigger and a blueprint for the rest of India. This project demonstrates how the use of fossil fuels will increasingly take a back seat and renewable energy will lead the way in the future. I appreciate the innovation and initiative undertaken by Greenko in setting up this facility which will provide clean energy round the clock. This project also illustrates the exclusive opportunities Andhra Pradesh offers to businesses investing in green energy in support of India’s decarbonization ambition. Our state’s topography enables 33000 Mega Watt renewables capacity in this state and this project will go a long way to demonstrate that green power can be generated effectively.

Speaking on the occasion, Mr. Anil Chalamalasetty, Founder, CEO & MD, Greenko Group said:

“It’s a moment of great pride for Greenko that we have pioneered to deliver, ahead of global ambition of a 24/7 dispatchable renewable energy solution, for industrial decarbonization and energy transition.

This was achieved due to policy support at the national level and the visionary leadership of Hon’ble Chief Minister of Andhra Pradesh Sri Jagan Mohan Reddy garu, who is transforming Andhra Pradesh into a sustainable manufacturing hub.

Given the State’s favourable topography for PSPs; Andhra Pradesh is set to become an energy storage capital of India. This integrated solution is pivotal for the Nation to become energy independent and establishes it as a leader of decarbonized economies.”

With this project, Greenko has pioneered the concept of storage contracts with central utilities and large industries. The project is scheduled to get commissioned by last quarter of 2023.

About Greenko Group

Greenko Group is the World’s largest Renewable Energy Storage and leading Energy Transition & Decarbonization solutions company. Greenko with an installed Renewable Energy capacity of ~7.5 GW across Wind, Solar and Hydro capacities has ~10 GW of projects under development.

Greenko has invested over US$7.5 billion; with Equity of over US$2.5 billion and raised Global Green Bonds of over US$5.0 billion over the last 10 years and today produces 18 BU’s (1~1.5%) of India’s total energy production.

Greenko is building an intelligent, lowest cost “Energy Cloud Storage Platform” of 50 GWh capacity to be commissioned by 2025 and expand to 100 GWh by 2027 along with green hydrogen production systems of 10 GW capacity by 2030.  

Greenko is majority owned by two of the world’s largest Sovereign Wealth Funds, Government Investment Corporation (GIC) of Singapore and Abu Dhabi Investment Authority (ADIA) of Abu Dhabi, UAE along with Orix Corporation, Japan and the Founders Anil Chalamalasetty & Mahesh Kolli.

 

Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same.

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