Welspun New Energy has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra’s Department of Water Resources. They will develop the 1.2 GW Dhamni Pumped Hydro Project with an estimated investment of 5,000 INR-Crore.
Welspun New Energy will construct the pumped storage project in the Pune and Raigad districts over the next 6-7 years. The company also plans to establish 5 GW of renewable energy and 2 Million Tonnes per annum of green derivatives capacity by 2030. Additionally, this project offers a valuable opportunity for long-duration energy storage, which will manage variable supply and demand while enhancing grid stability.
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This ambitious project aims to significantly boost the country’s energy storage capacity. Furthermore, it will support the seamless integration of renewable energy into the grid. Kapil Maheshwari, Executive Director & CEO of Welspun New Energy Ltd, highlighted that the Dhamni Pumped Hydro project will play a crucial role in stabilizing the intermittent nature of renewable energy generation.
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