A Memorandum of Understanding for the development of pumped storage projects and renewable energy has been signed by Grid Corporation of Odisha (GRIDCO) and NHPC, the largest hydropower development firm in India.
According to a statement from the Ministry of Power, the MoU calls for the establishment of renewable energy projects (on-ground and floating solar projects) and storage projects totaling at least 1,000 megawatts each in the state.
On June 23, 2023, the MoU was signed by Rajat Gupta, Executive Director (Strategy Business Development and Consultancy), NHPC, and Trilochan Panda, Managing Director, GRIDCO Limited, in the presence of Nikunja B. Dhal, Chairperson, GRIDCO, Additional Chief Secretary, Department of Energy, Government of Odisha, and Biswajit Basu, Director (Projects), NHPC Limited. India has made a number of ground-breaking choices as part of its ambitions to reduce carbon emissions.
Prime Minister Narendra Modi made a bold five-point "Panchamrit" vow at the COP26 meeting in Glasgow in 2021, including achieving 500 GW of non-fossil electrical generation, sourcing 50% of all energy needs from renewable sources, and cutting emissions by 1 billion tonnes by 2030. India also wants to cut its GDP's emissions intensity by 45%. India finally pledges to have zero emissions by 2070.
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