1 GW of pumped storage projects in Karnataka won by JSW and Greenko

23 Mar 2023 CW Team

The Power Company of Karnataka (PCKL) has awarded contracts to JSW Neo Energy (JSW Energy) and Greenko KA 01 IREP (Greenko) for the provision of 1 GW of electricity supply of 8 hours per day from pumped hydro storage projects that offer continuous 5-hour discharge. By the bucket-filling process, JSW Neo Energy won 300 MW by quoting Rs 14.75 million, while Greenko got 700 MW by quoting Rs 14.76 million. 960 MW was quoted by Greenko. The e-reverse auction's opening bid was set at Rs 14.88 million. Earlier this month, the tender was floated.

The successful bidders and PCKL will sign power purchase agreements (PPAs) that are valid for 40 years. The PPA must be signed and the projects must be started within 36 months anywhere in Karnataka. The first phase of commissioning at each project site will require a minimum capacity of 100 MW or 50% of the total project capacity, whichever is lower. If part of the project is completed early, PCKL may purchase the electricity on a pro-rata basis at 75% of the annual fixed cost.

The performance bank guarantee for the project will be cashed in proportion to the remaining capacity that isn't commissioned if commissioning is delayed. The cost of setting up connectivity to the closest state transmission utility substation is on the developer. The Ministry of Electricity suggested last month that pumped storage projects be funded with favourable climate money.

These projects, which use renewable energy for charging, may be developed using sovereign green bonds issued to mobilise funding for green infrastructure.

Draft regulations for pumped storage projects in the nation have been released by the ministry. The rules aim to make use of pumped storage projects' enormous potential for grid stabilisation and peak power demand filling.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..