State-owned NHPC Ltd has to plan to start 20.8 GW of pumped storage plants, investing Rs 62,400 crore in such states named Maharashtra, Andhra Pradesh, Odisha, Jammu & Kashmir, Jharkhand and Mizoram, according to a top hydropower firm.

This is used to store the cheapest green power electricity by raising water to height and releasing it into a lower reservoir to generate electricity when the demand is high. This plant helps to integrate renewable energy into the power system and facilities to keep power grids stable since electricity is produced intermittently from clean energy sources such as solar and wind.

• CEA Maintains 6.5-7% Growth Estimate for FY25
• Waaree Energies Shares Soar 8% on Securing 170 MW Project 
• Gland Pharma Shares Rally 5% on Securing USFDA Approval
• Reliance Power Shares Hit 5% Upper Circuit as Arm Secures Solar Energy Project 
• Stocks in Focus: ONGC, Reliance Power, Tata Power and Others

“We are working a lot on new pumped storage plants. As part of this, our discussions are ongoing with Andhra Pradesh for signing an MoU (memorandum of understanding). These plants are in Andhra Pradesh,” said NHPC chairman and managing director Abhay Kumar Singh.

“We are doing some pre-feasibility reports for similar projects in Madhya Pradesh, Maharashtra, Jharkhand and Odisha,” Singh added.