Greenko Group to establish pumped storage facility worth 100 billion

12 Jan 2023 CW Team

A Pumped Storage Project (PSP) will be built in Gandhi Sagar in the Neemuch District of Madhya Pradesh with an investment of INR 100 billion from Greenko Group, one of India's leading energy transition companies. The project would be built in the Neemuch district next to Gandhi Sagar, with a daily storage capacity of 11 GWh.

There will be significant cost savings as the unstable renewable electricity stored in the PSP project during lean demand hours will be later sent to help meet the state's changing peak power demand. Additionally, the PSP project will help MP state satisfy its legal RPO (Renewable Power Obligation) requirements as well as the recently announced ESO targets.

“The Group is committed towards transforming renewable energy from intermittent and inflexible energy to firm, dispatchable and on-demand energy controlled through digitization and long duration storage solutions to support the economy-wide shift towards carbon-free energy,” said Anil Chalamalasetty, CEO & MD, Greenko Group.

Over 4,000 individuals will reportedly be employed by the project. In Madhya Pradesh's five districts, Greenko now runs wind and solar power capacity with a total of more than 500 MW. By December 2024, Greenko's PSP is anticipated to be operational and connected to the ISTS Network.

Infrastructure Transport

11 May 2026

Shivraj Chouhan Launches PMGSY IV and Announces Package for Madhya Pradesh

Union Minister Shivraj Singh Chouhan launched the Pradhan Mantri Gram Sadak Yojana (PMGSY) IV at Bhairunda in Sehore district during the 25 year celebrations and announced a development package for Madhya Pradesh. The programme was organised by the Union Ministry of Rural Development and attended by Chief Minister Dr Mohan Yadav, ministers of state, state ministers, legislators and senior officials from the centre and the state. The minister said the central government under the Prime Minister is committed to strengthening rural livelihoods through improved connectivity, housing and women's in..

DMR Engineering Reports FY 25-26 Financial Results

DMR Engineering reported its half year results for the financial year ended 31 March 2026 and published full year figures on a standalone basis. Standalone revenue from operations decreased by 2.01 per cent year-over-year to Rs 102.58 million (mn), while profit after tax declined by 43.94 per cent to nine point five six mn, leaving a profit after tax margin of nine point zero five per cent. Earnings per share stood at Rs zero point nine two, a fall of 44.71 per cent year-over-year. The company attributed part of the decline to one-off provisioning for bad debts and additional financing charges..

Atlanta Electricals Posts Strong FY26 Growth And Debt Free Finish

Atlanta Electricals reported audited consolidated results for the quarter and year ended 31 March 2026. The company recorded significant year-on-year revenue growth driven by capacity ramp-up at new facilities and higher utilisation at legacy plants. The announcement summarised operating improvements and strategic milestones achieved during the year. For Q4 the company reported revenue of Rs 7.48 bn and for FY26 revenue of Rs 18.52 bn, representing robust growth versus the prior year. EBITDA in Q4 was Rs. 1.49 bn and Rs. 3.44 bn for the full year, with margins expanding to 20 per cent in the q..