Greenko Group, one of India’s leading renewable energy companies, is investing 11,790 crores in Belagavi for an Integrated Renewable Energy Project.
The project will consist of a 600 MW Pumped Storage Energy Project, a 1000 MW Solar Power Project, and 400 MW Wind Power Project.
To facilitate the project, the company will acquire a total of 6000 acres of land in various Sy.Nos. of Tallur, Karalakatti, Basidanidaddi, and other villages of Saundatti, Ramadurg, Khanapur, Bailahongal, Gokak, Kittur, and Belagavi Talukas, Belagavi District.
Company vide its letters dated.17.02.2020 and 19.03.2020 have requested an extension of time by 5 years till the year 2025 to implement the project as it involves;
1. Construction of Upper Reservoir and Lower Reservoir along with Hydro Electric Power house.
2. Construction of around 70 KM 400 KV double circuit line from the Project site (Saundatti) to 400 KV PGCIL Naredra Substation.
The Committee noted the request of the company and after detailed discussions decided to recommend to SHLCC for approval of an extension of time by 3 years to implement the project.
To ensure a smooth and speedy implementation, two SPV companies have been formed, both of which are 100% subsidiaries of M/s. Greenko KAoi IREP Pvt. Ltd. The State High Level Clearance Committee (SHLCC) approved the project in its 51st meeting held on 2.3.2018, and the project has also received environmental clearance.
Greenko Group is the world’s largest renewable energy storage company and a leading provider of energy transition and decarbonization solutions. With an installed renewable energy capacity of ~7.5 GW across wind, solar, and hydro capacities, Greenko has ~10 GW of projects under development. The company has invested over US$7.5 billion, with equity of over US$2.5 billion, and has raised global green bonds of over US$5.0 billion over the last 10 years. Today, Greenko produces 18 BU’s (1 ~ 1.5%) of India’s total energy production.