State-owned NHPC Ltd has to plan to start 20.8 GW of pumped storage plants, investing Rs 62,400 crore in such states named Maharashtra, Andhra Pradesh, Odisha, Jammu & Kashmir, Jharkhand and Mizoram, according to a top hydropower firm.

This is used to store the cheapest green power electricity by raising water to height and releasing it into a lower reservoir to generate electricity when the demand is high. This plant helps to integrate renewable energy into the power system and facilities to keep power grids stable since electricity is produced intermittently from clean energy sources such as solar and wind.

• IIT Bombay Sets Up Rs 100 Crore Venture Capital Fund for Startups 
• Tata Power Inks MoU with Asian Development Bank for $4.25 Billion 
• Innovators Facade Shares Skyrocketed 11% on Securing Orders Worth Rs 110 Crore 
• Stocks in Focus: SJVN, Tata Power, Afcons Infrastructure, and Others
• Stocks Under F&O Ban: Adani Enterprises, Aarti Industries, Indraprastha Gas, and Others 

“We are working a lot on new pumped storage plants. As part of this, our discussions are ongoing with Andhra Pradesh for signing an MoU (memorandum of understanding). These plants are in Andhra Pradesh,” said NHPC chairman and managing director Abhay Kumar Singh.

“We are doing some pre-feasibility reports for similar projects in Madhya Pradesh, Maharashtra, Jharkhand and Odisha,” Singh added.