Adani Green Energy (AGEL) will invest approximately ₹150 billion (~$1.7 billion) to set up two pumped storage projects (PSP) with a combined capacity of 2,700 MW in Assam.

The company has received a letter of award for 500 MW out of a total of 2,700 MW.

AGEL said the storage project will utilize advanced solutions for energy storage, grid stability, and managing electricity demand during peak times.

According to Gautam Adani, Chairman at the Adani Group, these projects will not only energize Assam but also catalyze progress across the entire northeastern corridor.

The company is also working on several PSPs, including a 500 MW project at the Chitravathi River in Andhra Pradesh, a 1,500 MW project at Tarali in Maharashtra, and an 1,800 MW project at Gandikota in Andhra Pradesh.

In September, Adani Green awarded Austria-based technology group ANDRITZ an order for the Gandikota pumped storage project.

Adani Green had also awarded ANDRITZ an order for the supply of pump turbines, motor generators and electromechanical equipment for the Tarali project in June. ANDRITZ had bagged the first order from Adani in 2023 for the Chitravathi project.

India’s growing need for energy storage has been outlined in the National Electricity Plan 2023, which projects a requirement of around 74 GW and 411 GWh of storage capacity by 2031-32. Of this, approximately 27 GW and 175 GWh are expected to come from pumped storage projects.

In February, the government issued tariff-based competitive bidding guidelines for procuring stored energy from existing, under-construction, or new pumped storage projects.

Last October, the Ministry of Power modified the provision of budgetary support for hydroelectric and pumped storage projects, with a total outlay of ₹124.6 billion (~$1.48 billion). The ministry will support projects of a cumulative hydroelectric capacity of 31 GW, including 15 GW of pumped storage capacity from the financial year 2024-25 to 2031-32.