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Greenko Group will build the largest renewable energy storage facility in the world, Mahesh Kolli, its Joint Managing director, said.
According to a company official, the 5,230 megawatt (MW), project will be built at a cost USD 3 billion. He also informed PTI that ArcelorMittal, a global steelmaker, has contributed approximately USD 600 million.
He spoke on the sidelines at the ‘First Concrete Pouring Ceremony’ of the project, where Andhra Pradesh Chief minister Y S Jagan Mohan Reddy was chief guest.
He shared details about the project and said that of 5,230 MW, 3,300 MW was solar, 550 wind, and 1,680MW were pump storage capacities for 6 hours.
Kolli stated that the project will be completed by 2023.
Anil Chalamalasetty, Greenko Group CEO, stated that “With this project we have pioneered storage… This was possible thanks to policy support at national level of the state government.” Hyderabad’s Greenko Group has a total installed capacity of 7.5gigawatt. It is spread across 15 states and includes hydro, solar and wind generation assets.
ArcelorMittal has extended its USD 600 million for the construction of 1,000 MW of the 3,000-MW solar energy capacity.