Greenko, NTPC sign MoU for round-the-clock power supply

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Hyderabad-based Greenko Energies has announced its partnership with state-owned power generator NTPC Ltd to develop round-the-clock and flexible power supply solutions by integrating renewable energy sources and pumped storage projects.

As variable renewable electricity generation increases in the generation mix, hybrid systems that combine generation with storage are the next wave in power generation. 

Greenko is one of India’s largest RE developers with a 6.4 GW portfolio and developing over 40 GWh of pumped hydro storage projects across six states in India. 

According to Greenko, pumped hydro storage projects are one of the lowest-cost storage solutions at around 85 US$/MWh compared to battery storage systems currently being imported primarily from China at around 200 US$/MWh ((forecasted to reached 100 USD/MWh by 2030) with limited life cycles.

 “The value proposition of the potential offering will be to meet the evolving bespoke requirements of Discoms and other power consumers in India in real-time. Affordable energy storage is critical to the sustained growth of renewables, grid balancing and address limited generation flexibility in the Indian energy market”—said the developer which signed a Memorandum of Understanding with NTPC’s power trading arm NTPC Vidyut Vyapar Nigam Ltd.

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