Power ministry proposes tax exemption, cheap land for pumped storage projects
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New Delhi: To promote pumped storage hydropower projects in India, the Ministry of Power has proposed incentives such as tax exemption, easy environmental clearance and providing land at concessional rates. Releasing the draft guidelines on Pumped Storage Projects (PSP), the ministry has sought views of states as well as public and private companies within 15 days by March 2, 2023. In its guidelines, the ministry said that in view of the immense utility of PSP in grid stabilization and meeting the peak demand of power, a need was felt to issue an independent guideline aimed at promoting PSP, thereby facilitating its development. Instructions to be set.
The Central Electricity Authority (CEO) estimates that India has a potential of 103 GW of pumped storage on the river. In addition, a large number of separate pumped storage capacity is also available from the river. According to the ministry, currently eight projects (4,745.60 MW) are operational, four projects (2,780 MW) are under construction and 24 projects (26,630 MW) awarded by states are at various stages of completion. Pumped Storage Hydropower (PSH) It is a power storage plant. Two (reservoirs) of water are made in it. One down and the other up. The elevation between them is such that the water flowing towards the lower reservoir passes through the turbine and generates electricity.
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