Greenko Group is setting up the world's largest renewable energy storage plant here, its Joint Managing Director Mahesh Kolli said.
The 5,230 megawatt (MW) project is being set up at a cost of USD 3 billion, the company official told PTI while informing that global steel maker ArcelorMittal has put in around USD 600 million for the project.
He was speaking on the sidelines of the 'First Concrete Pouring Ceremony' of the project where Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy was the chief guest.
Sharing the details of the project, he said out of 5,230 MW, 3,000 MW is solar, 550 MW wind and 1,680 MW is pump storage capacity for 6 hours.
The project is expected to be commissioned by 2023, Kolli said.
Greenko Group CEO and MD Anil Chalamalasetty said, "With this project, we have pioneered the concept of storage... This was possible due to policy support at the national level and of the state government."
Hyderabad-based Greenko Group is among the largest renewable energy (RE) companies with an installed capacity of 7.5 gigawatt across solar, wind and hydro generation assets spread in 15 states.
ArcelorMittal's USD 600 million has been extended for setting up 1,000 MW capacity of the 3,000 MW solar energy capacity.
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