Infrastructure
Powering The Future: Reliance Industries Set To Enter Pumped Storage Projects For Clean Energy
Amit Mishra
Mar 05, 2024, 12:36 PM | Updated 12:36 PM IST
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Reliance Industries Limited (RIL) is planning to enter pumped storage projects (PSP) for hydro power as it focuses closely on clean energy, LiveMint reports.
Reliance New Energy Limited, a wholly-owned subsidiary of RIL is scouting for sites for the projects, the report said.
Pumped hydro storage operates through a closed-loop system, utilising an upper reservoir and a lower reservoir to store and generate electricity.
By pumping water from the lower reservoir to the upper reservoir during periods of excess electricity, energy is stored. When electricity is needed, the water flows down, turning a turbine to generate electricity. Despite a slight loss of efficiency, the economics of pumped hydro storage remain favourable.
"RIL is looking for PSP sites and would bid for these projects in a big way," the report noted.
India boasts vast potential for pumped hydro storage, thanks to its diverse topography that offers numerous suitable sites. According to estimates by the Central Electricity Authority (CEA), the country's potential for pumped storage stands at an impressive 103 GW.
Currently, several projects are either operational or in various stages of development, further emphasising the significant opportunities in this sector.
Notably, Greenko, a leading player in the renewable energy sector, is currently in the process of constructing the world's largest pumped hydro storage system at Pinnapuram in Andhra Pradesh, boasting a capacity of 1,680 MW.
The project has reached an advanced stage, with 'dry commissioning' expected to be completed by the end of March and is likely to be made fully operational in another three months or a little later, according to a Greenko engineer involved in the works.
Moreover, several other significant projects are underway, involving key players such as JSW Energy, NTPC, Tata Power, Power Grid Corporation of India, and Adani Green, among others.
To foster the expansion of pumped hydro storage projects, the Centre has issued guidelines empowering state governments to allocate projects and simplify procedures. Additionally, pumped hydro projects enjoy exemptions from certain levies, making them an attractive option for developers and investors.
With RIL's intended venture into PSPs, competition in the sector is poised to intensify. This comes amidst considerable interest from various renewable energy firms and business entities.
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