Adani to invest $3 billion in green hydropower project: report

Adani Group is planning an investment of up to ₹27,500 crore (about $3 billion) to set up its first pumped-storage hydropower (PSH) facility as it revises its green-energy target of 50GW by 2030, Mint reported. 

PSH is a configuration of two water reservoirs at different elevations that can generate power as water moves down from one to the other, passing through a turbine. 

Adani Green Energy Ltd will set up a PSH capacity of 5GW in the next five years and then increase to 25GW, the report said, adding that facilities will come up in Maharashtra, Andhra Pradesh, Tamil Nadu, and Telangana.

On current costs, this will require an investment of ₹25,000-27,500 crore, it added. 

India’s hydroelectricity output fell at the steepest pace in at least 38 years during the year ended 31 March, according to a Reuters analysis published earlier this year. 

Hydro’s share in India’s total power output fell to a record low of 8.3% during the fiscal year, Grid-India data showed. 

Renewables accounted for 11.7% of India’s power output in the year.