THDCL inks MoU with Karnataka Power to accelerate various power projects

Bengaluru: The Karnataka Power Corporation Limited and Tehri Hydro Development Corporation Limited (THDCL) signed a Memorandum of Understanding (MoU) on Thursday to take up accelerated development of various power projects worth 15,000 crore. The project includes hydro, solar (floating and ground mounting) and pumped storage projects. THDCL Director (Technical) Bhupender Gupta and Karnataka Energy Department Additional Chief Secretary Gaurav Gupta inked the pact on Thursday.

Energy Minister, K J George said, “The MoU pertains to the development of a 100 MW floating solar PV plant at the Kadra Dam reservoir in Uttara Kannada district and the establishment of 170 MW ground-mounted rooftop solar PV plant on the premises of KPCL plants and a 1500 MW pumped storage plant at Varahi in Shimoga district," according to an official press release.

“The Centre has assured that the power generated under this MoU will prioritise the Karnataka state government. We also need power to address the state's rising demands,” George added. “The Karnataka government would work towards executing the MoU at the earliest. This is a flagship scheme and benefits the state immensely," the minister added.

The project will lead to investment of more than Rs 15,000 crore in Karnataka by THDCL

THDCL Director (Technical) Bhupender Gupta said, these projects once finalised, will lead to an investment of more than Rs 15,000 crore in Karnataka by THDCL on mutually agreed terms and conditions. Right now, the task is to prepare the Detailed Project Reports (DPRs), take up the feasibility study, and get approvals, and for that, THDCL has assured that immediate steps will be taken.

In addition to the MoU, THDCL can self-identify solar and pumped storage projects in Karnataka and approach KPCL to allot these projects through the Government of Karnataka. KPCL will facilitate THDCL for the same, the statement said.

In another development of renewable energy project

Karnataka Renewable Energy Development Limited (KREDL) has also signed an MoU with THDCL for the development of renewable energy projects, including pumped storage projects in Karnataka. It encompasses the development of a 1GW hybrid project and 500MW Bidar solar park by THDCL, according to the statement.

THDCL can self-identify solar and any other renewable energy (RE) projects in Karnataka and approach KREDL to allot these projects through the Government of Karnataka as per RE Policy 2022-27, which KREDL will facilitate, it added.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)