Mahesh Kolli, co-managing director of Greenko Group, said Greenko Group is building the world’s largest renewable energy storage plant. Company officials told PTI that the 5,230 MW project would cost $3 billion while informing global steelmaker ArcelorMittal that it has committed about $600 million to the project.

He spoke during the “First Concrete Pouring Ceremony” project with Andhra Pradesh Chief Minister YS Jagan Mohan Reddy as Chief Guest. Elaborating on the project, he said that out of 5,230 MW, 3,000 MW of solar, 550 MW of wind and 1,060 MW of pump capacity is 8 hours.

The project is expected to be operational in 2023, Kolli said. Anil Chalamalasetty, CEO and General Manager of Greenko Group, said: “Through this project, we have pioneered the concept of storage thanks to policy support at both the national level and the state government.”

Hyderabad-based Greenko Group is one of the most significant renewable energies (RE) companies, with 7.5 GW of solar, wind and hydro assets across 15 states. ArcelorMittal’s $600 million solar capacity has been expanded to 1,000 MW and 3,000 MW.