Akshata Sharma
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Gautam Adani-led Adani Group is reportedly planning to invest Rs 25,000-27,500 crore (about $3 billion) to set up its first pumped-storage hydropower (PSH) facility as it aims to gain an edge in the country's thriving clean-energy industry,
According to a Mint report, Adani Green will set up a PSH capacity of 5 GW in the next five years and then increase to 25 GW, which will take the group's total green-energy capability to 70 GW.
PSH produces electricity by moving water between two reservoirs at different elevations.
The report further said that the company will set up PSH generation facilities in Maharashtra, Andhra Pradesh, Tamil Nadu, and Telangana, which, based on the current costs, will require an investment of Rs 25,000-27,500 crore.
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