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.

Real Estate

05 Aug 2026

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..