Greenko to build India’s first off-river energy storage project

05 Aug 2022 CW Team

Greenko has tied up a Rs 5,500 crore loan from Power Finance Corporation (PFC) to build India's first off-river energy storage project, which will be located in Andhra Pradesh.

The 20-year loan has been priced at 11% per annum interest and the power generator will have to start repaying the loan only after the project has been commissioned. After commissioning, it will get a one-year moratorium during which it will not have to make any payments to the lender.

The storage project, fully owned by Greenko, is being built at a cost of Rs 7,600 crore, of which the debt component is being funded by PFC, a public sector undertaking. The remaining funds for construction will be put in by Greenko as equity.

An off-river energy storage project involves construction of two large water reservoirs at two ends of a gradient on a stretch of land. During the day, the storage facility uses solar energy to pump the water from the bottom reservoir to the top. At night the water is pumped down to generate hydro energy. The capacity of the storage facility is 1,200 MW. Such storage facilities exist at hydro power projects located along rivers but this will be the first to be constructed on a land mass.

Also read:
ONGC inks MoU with Greenko for green hydrogen, derivatives

Infrastructure Urban

05 May 2026

Meghalaya And Assam Hold Talks To End Transport Stoppages In Garo Hills

Meghalaya and Assam have opened talks aimed at ending recent stoppages of commodity transport in the Garo Hills, officials said. The deputy chief minister, in charge of home affairs, reported that both state governments are coordinating to resolve disruptions and to restore normal movement of goods. He acknowledged that misunderstandings may have contributed to the incidents and that clarification between administrative units is under way. The discussions are intended to produce practical arrangements that will allow consignments to move without hindrance while respecting local procedures. The..

Kochi Metro Records 1.375 mn Rise In Passengers In FY26

Kochi Metro recorded a marginal rise in ridership in the financial year 2025-26, carrying 1.375 mn more passengers than in the previous year. The service carried 36.8 million (mn) passengers in 2025-26 compared with 35.5 mn in 2024-25, representing a year-on-year increase of 3.9 per cent. The growth was described as distributed rather than concentrated in isolated spikes. A month-wise analysis shows steady gains across quarters. In the first quarter, ridership increased from 8.57 mn to 8.84 mn, while the second quarter rose from 9.13 mn to 9.51 mn. These trends indicated broad-based improvemen..

Ghaziabad Plans 16km Metro Link To Delhi Via Hindon Airport

Ghaziabad authorities are pursuing a 16 km metro link to Delhi that will run via Hindon Airport, and a detailed project report is under way. The plan is intended to improve connectivity between Ghaziabad and the national capital and to provide an interchange with the airport. Officials said the project is being studied to assess alignments, station locations and cost estimates ahead of formal approvals and tendering. The announcement follows the inauguration of the Delhi?Faridabad metro extension, which will offer hassle free travel for around 0.2 mn daily commuters between the national capita..