In a significant development for the power sector, Karnataka Power Corporation Limited (KPCL) and Tehri Hydro Development Corporation Limited (THDCL) have inked a Memorandum of Understanding (MoU) for various power projects valued at Rs 15,000 crore, encompassing hydroelectric, solar (both floating and ground-mounted), and pumped storage initiatives.

The agreement was sealed through the signatures of Bhupender Gupta, THDCL’s Director (Technical), and Gaurav Gupta, Additional Chief Secretary of the Karnataka Energy Department.

One of the standout projects under this MoU is developing a 100 MW floating solar photovoltaic (PV) plant, slated to grace the Kadra Dam reservoir in Uttara Kannada district. Additionally, plans include the establishment of a robust 170 MW ground-mounted rooftop solar PV plant within the precincts of KPCL plants and a mammoth 1500 MW pumped storage facility at Varahi, nestled in Shimoga district.

Sources suggest that the Karnataka government is poised to expedite the execution of this MoU, recognising its immense potential to bolster the state’s energy landscape. Once these projects are finalised, they are expected to attract investments exceeding Rs 15,000 crore to Karnataka via THDCL under mutually agreed terms and conditions.

The immediate focus is crafting Detailed Project Reports (DPRs), conducting feasibility studies, and securing necessary approvals, with THDCL assuring swift action. In addition to this pivotal MoU, THDCL gains the authority to self-identify solar and pumped storage projects within Karnataka. It can approach KPCL for project allocation through the Government of Karnataka, with KPCL facilitating the process.

As part of its commitment to renewable energy, Karnataka Renewable Energy Development (KREDL) has partnered with THDCL to promote renewable energy projects, such as pumped storage schemes. This collaboration aims to develop a massive 1 GW hybrid project and a significant 500 MW Bidar solar park under the guidance of THDCL, further demonstrating the state’s dedication to renewable energy.

In this case, THDCL also possesses the autonomy to identify solar and other renewable energy projects within Karnataka. It can approach KREDL for project allocation through the Government of Karnataka under RE Policy 2022–27, with KREDL facilitating the process.