Bengaluru: Karnataka Power Corporation Limited (KPCL) and THDC India Limited signed a Memorandum of Understanding (MoU) on Thursday to take up accelerated development of various power projects worth Rs 15,000 crore, including hydro, solar (floating and ground mounting) and pumped storage projects (PSPs). THDCIL Director (Technical) Bhupender Gupta and Karnataka Energy Department Additional Chief Secretary Gaurav Gupta inked the pact.
The MoU pertains to the development of a 100 MW floating solar PV plant at the Kadra Dam reservoir in Uttara Kannada district and the establishment of a 170 MW ground-mounted rooftop solar PV plant on the premises of KPCL plants and a 1,500 MW pumped storage plant at Varahi in Shimoga district, a statement said.
"The Centre has assured that the power generated under this MoU will prioritise the Karnataka state government. We also need power to address the state's rising demands," Karnataka's Energy Minister KJ George was quoted as saying.
He said the Karnataka government would work towards executing the MoU at the earliest. "This is a flagship scheme and benefits the state immensely," the minister added.
Gupta said that these projects, once finalised, will lead to an investment of more than Rs 15,000 crore in Karnataka by THDC on mutually agreed terms and conditions. Right now, the task is to prepare the Detailed Project Reports (DPRs), take up the feasibility study, and get approvals, and for that, THDC has assured that immediate steps will be taken, he said.
In addition to the MoU, THDC can self-identify solar and pumped storage projects in Karnataka and approach KPCL to allot these projects through the government of Karnataka. KPCL will facilitate THDC for the same, the statement said.
Karnataka Renewable Energy Development Ltd (KREDL) signed an MoU with THDCIL for the development of renewable energy projects, including pumped storage projects in Karnataka. It encompasses the development of a 1 GW hybrid project and 500 MW Bidar solar park by THDC, according to the statement.
In this case as well, THDCL can self-identify solar and any other renewable energy (RE) projects in Karnataka and approach KREDL to allot these projects through the Government of Karnataka as per RE Policy 2022-27, which KREDL will facilitate, it added.