Torrent Power lines up Rs 27,000 crore for 3 Pumped Storage Hydro Projects in Maharashtra

Three Pumped Storage Hydro Projects with a combined capacity of 5,700 MW have been approved for construction in Maharashtra by Torrent Power Limited and the Maharashtra government. The projects would cost around Rs. 27,000 crores, and while they were being built, they would employ roughly 13,500 people. These projects will be completed by Torrent during a five-year period.

The projects would be carried out at three locations chosen by Torrent: Karjat (3,000 MW) in Raigarh District, Maval (1,200 MW), and Junnar (1,500 MW) in Pune District. In a press release, Torrent Power noted that all of the locations were off-stream and that the projects were designed to offer daily energy storage of at least six hours. 

The amount of intermittent renewable energy that is used in the system is rising quickly. Energy storage is required for load balancing and meeting peak demand as a result. An established, tested, and affordable solution providing reliable, flexible, and dispatchable power is pumped storage hydro. PSH is a set up of two water reservoirs at various altitudes.

When there is an excess of electricity, when it is least expensive, water is pushed to the upper reservoir. Water flow from the upper reservoir to the lower reservoir uses a hydraulic turbine to produce power when there is a need and electricity is pricey. PSH is a far better option for energy storage than batteries since it is less expensive, has a lifespan of 40 years, and offers storage that can last for 6 to 10 hours with the possibility of repeated cycle operations throughout the day.

With a total installed generation capacity of 4.1 GW, Torrent Power mostly uses clean energy sources including gas (2.7 GW) and renewables (1.07 GW). Additionally, it is developing a renewable energy capacity of 0.7 GW. Renewable energy continues to be Torrent's primary priority in power generation.

"Torrent is strategically entering the storage space to fulfil the void in the grid left by intermittent renewable power," the company stated. "This will complement its growing portfolio of renewables and distribution." The share price of Torrent Power closed at Rs. 611.65 on Tuesday, up 3.92%. Benchmark Sensex closed unchanged.