Hyderabad based organization Greenko Group has started the construction of the world’s largest integrated renewable energy storage project (IRESP). The project is being established with a budget of $3 billion in the Kurnool district and is expected to complete by 2023.
The total energy capacity of the project is about 5,230 MW which consists of 3,000 MW of solar, 550 MW of wind and 1,680 MW of hydropower generation. The reports also highlighted that in future it will also deliver green hydrogen and green ammonia. The project will be spread over 15,000 acres. During the inauguration event of the project Mahesh Kolli, founder & joint MD of Greenko Group mentioned that the project’s $1 billion budget will be spent to create Renewable energy capacity and the rest $2 billion on setting up the solar, wind and hydropower generation capacities.
The project’s aim is to increase India’s renewable energy capacity and cut carbon emissions to help the country in achieving the net-zero target. The mega project has the capacity to reduce the 15 million tonnes of carbon annually which is equal to the emissions from 3 million vehicles.
While highlighting the significant role of this project in helping India to shift to greener sources to generate power and meet the energy demands Kohli said, “ it was part of the Greenko Group’s plans to build an intelligent, low-cost energy cloud storage platform of 50GWh capacity that it plans to commission by 2025”.