Adani Green Energy Secures 1,250 MW Energy Storage Contract From UP Power Corporation

Adani Green Energy's wholly-owned subsidiary, Adani Saur Urja, has secured a significant 1,250 MW energy storage contract from Uttar Pradesh Power Corporation Limited (UPPCL) through an e-Reverse Auction.

This project, known as the Panaura Pumped Hydro Storage Project (PSP), will be developed in the Sonbhadra district of Uttar Pradesh and is expected to be completed within six years. The contract has a 40-year commitment with an annual fixed cost of ₹76.53 lakh per MW, excluding taxes.

This initiative aligns with India's clean energy goals, which necessitate the development of large utility-scale storage projects to integrate renewables into the grid and provide round-the-clock renewable energy. Adani Green Energy has diversified its portfolio to include energy storage solutions in addition to its existing solar, wind, and hybrid projects.

The Panaura PSP will use hydro pumped storage technology, which is one of the most cost-competitive, mature, and scalable energy storage solutions. This technology uses surplus solar energy during the day to pump water uphill, which is then released to generate electricity during peak evening hours. The benefits include grid stability, peak shaving, frequency regulation, reserve generation, and flexible energy management.

This project aligns with India's clean energy goals, which require the development of large utility-scale storage projects to integrate renewables into the grid and provide round-the-clock renewable energy.

The project is part of Adani Green Energy's broader strategy to enhance its renewable energy portfolio and contribute to India's decarbonization goals. The company currently has an operating renewable portfolio of 11.9 GW, the largest in India, and aims to achieve 50 GW by 2030.

Adani Green Energy has firm plans to add over 5 GW of hydro PSP capacity by 2030. The company has already commenced the construction of several hydro PSPs, including 500 MW at Chitravathi River in Andhra Pradesh, 1,500 MW at Tarali in Maharashtra, and 1,800 MW at Gandikota in Andhra Pradesh.