State-run National Hydroelectric Power Corporation (NHPC) is planning to invest around Rs 3,000 crore over the next five years to set up solar and wind projects across the country.
The company is looking at opportunities in states like Maharashtra, Andhra Pradesh, Kerala, Uttar Pradesh and Tamil Nadu, among others.
“After expanding our presence in the hydro sector, we now want to diversify into solar and wind sectors as well. We are looking at opportunities and plan to invest around Rs 3,000 crore over the next five years to set up solar and wind projects across the country,” NHPC Director (Technical) Balraj Joshi told PTI over phone.
Joshi said the company is already developing a few projects in the said states.
“We are also exploring the possibility to develop 400 MW Koyna stage-IV pumped storage project in Maharashtra. We are carrying out feasibility and technical studies on this project and will soon come out with the report,” he said.
Joshi further said the company had not planned to set up 600 MW floating solar project at the Koyna complex project, as reported earlier, but has proposed to develop 400 MW pumped storage project, which will be developed on solar hybrid model.
Pumped storage projects store and generate energy by moving water between two reservoirs at different elevations.
On the solar front, the company has signed an MoU with Solar Energy Corporation of India (SECI) to set up projects to the tune of 250 MW.
In Kerala, NHPC will be setting up a 72 MW solar project, while in Maharashtra it has planned a 50 MW one.
In Uttar Pradesh, NHPC already has an agreement with Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) to jointly develop a 50 MW plant.
NHPC had in 2014 signed a pact with the Kerala government to develop wind projects in the state. Last year, the company had also approved setting up of a 50 MW wind project in Rajasthan.