Indian renewable energy company Greenko Group has unveiled plans to build a world-class renewable energy storage facility in the Indian state of Andhra Pradesh. The 5.23GW project is located in Kurnur with a total investment of US$3 billion.

Luxembourg-based steelmaker ArcelorMittal contributed about $600 million to the development of the project. The project will include 3GW of solar power generation capacity and 550MW of wind power generation capacity, as well as 1,680MW of six-hour pumped hydro storage capacity. ArcelorMittal's investment will be used to build 1GW of capacity for solar projects. Anil Chalamalasetty, CEO and General Manager of Greenko Group, was quoted as saying: "Through this project, we have pioneered the concept of storage thanks to the policy support of the national and state governments."

According to Mahesh Kolli, managing director of Greenko Group, the project is expected to be commissioned in 2023. In March 2022, ArcelorMittal first announced a partnership with Greenko Group to develop renewable energy projects in Andhra Pradesh. The renewable energy project will combine solar and wind energy and will be aided by the Greenko pumped hydro storage project. Keywords: engineering construction, engineering news

Under the terms of the deal, ArcelorMittal will fund and own the project, while Greenko will be responsible for its design, construction and operation. Once the facility is operational, the clean energy it generates will be sold to ArcelorMittal Nippon Steel India under a 25-year power purchase agreement with ArcelorMittal. The amount of clean energy purchased under the PPA will be equivalent to reducing carbon emissions by nearly 1.5 million tons per year.Editor/XingWentao