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Home » News » Kundan green energy partners with Uttarakhand for 80 MW hydropower boost

Kundan green energy partners with Uttarakhand for 80 MW hydropower boost

December 11, 2023 1:57 pm

Kundan green energy partners with Uttarakhand for 80 MW hydropower boost
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The MoU outlines plans to augment the state’s hydropower generation capacity with a substantial investment of INR 1000 crore, creating jobs and advancing Uttarakhand’s renewable energy goals.

Kundan Green Energy, represented by its director, Apurve Goel, has recently entered into a Memorandum of Understanding (MoU) with the Government of Uttarakhand. This significant agreement outlines plans to augment the state’s hydropower generation capacity by an additional 80 MW through greenfield projects, with a substantial investment of INR 1000 crore. During the ceremony, Goel expressed the company’s unwavering commitment to advancing the national agenda of optimising renewable energy in India.

Apurve Goel, Director, Kundan Green Energy, said “We are committed to the national agenda of optimizing renewable energy in India. Hydropower is complex, long haul and capital intensive. At the same time, it is always available, since it is independent of wind speeds or sunshine. The state of Uttarakhand has very vast untapped potential in hydropower, which we are working to develop.”

The MoU was formalised in the presence of the Chief Minister, Pushkar Singh Dhami, and the Principal Secretary (Power) of the government of Uttarakhand.

Kundan Green Energy envisions completing the establishment of these greenfield projects within an estimated timeframe of 4-5 years. Through this initiative, the company aims to directly employ 500 individuals and indirectly contribute to the employment of an estimated 2000 people. The projects, designed with state-of-the-art technology, will adhere to the best sustainable environmental practices, ensuring minimal impact on the surroundings. Additionally, the company plans to actively engage and integrate local communities into the development process.

Despite Uttarakhand’s considerable potential for generating renewable power, it currently remains a net power importer, primarily due to underdeveloped resources. Goel expressed optimism in Kundan Green Energy’s role as a catalyst for change, anticipating that their efforts will aid the state in achieving self-sufficiency in power through renewable methods. He underscored the broader impact on socio-economic and developmental goals that such a transition could bring about.

Kundan Green Energy’s collaboration with the Uttarakhand government marks a significant step toward harnessing the untapped hydropower potential of the state. With a focus on sustainable practices, technological innovation, and community involvement, the partnership aims to contribute not only to increased power generation but also to the socio-economic development of Uttarakhand.

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