Jindal Steel Will Invest 11730 Crores In Chhattisgarh. MOU Signed

Positive India:Raipur:
Jindal Renewables Power will set up Pumped Storage Projects in Raigarh and Bilaspur with an investment of Rs 11,730 crores.

Jindal Renewables Power Pvt Ltd has signed an MoU with the State Government of Chhattisgarh for generation of 2160 MW power generation through Pumped Storage Projects in Raigarh and Bilaspur with an investment of Rs 11,730 crores.

The MoU was signed on behalf of the State Government by Mr Bhuvanesh Yadav, Secretary Commerce & Industries and Mr Pradeep Tandon as authorised signatory on behalf of JRPPL.

Pradeep Tandon informed that Pumped storage hydropower (PSH) is a type of hydroelectric energy storage. It is a configuration of two water reservoirs at different elevations that can generate power as water moves down from one to the other (discharge), passing through a turbine. The system also requires power which can be provided through solar cells as it pumps water back into the upper reservoir (recharge). PSH acts similar to a giant battery, because it can store power and then release it when needed. Pumped storage power plants are used to balance the frequency, voltage and power demands within the electrical grid; they are often utilized to add additional megawatt capacity to the grid during periods of high power demand. For this reason, pumped storage plants are referred to as ‘peaking’ plants.PSH can be characterized as open-loop or closed-loop. Open-loop PSH has an ongoing hydrologic connection to a natural body of water. Closed-loop PSH, reservoirs are not connected to an outside body of water.

The MoU as per him has been signed for closed -loop PSH. Tandon also said that during the day, power is in demand and electricity prices are high. At night, power is not in demand and electricity prices are low. Pumped storage power plants purchase power at night to pump water up to the upper reservoir, they then generate power and sell it back to the grid during the day, when the demand -and price – is high.Setting up of these plants in the region will help in gainful employment of local people.