Kundan Green Energy signed an MoU with Uttarakhand's government to invest Rs 1,000 crore in developing new hydropower projects, adding 80 MW of capacity to the state's renewable energy sector. The agreement was formalized in the presence of Uttarakhand's Chief Minister Pushkar Singh Dhami and the Principal Secretary (Power) to enhance the region's hydropower production.
"We are dedicated to India's goal of maximizing renewable energy", stated Apurve Goel, Director of Kundan Green Energy, during the agreement signing. He added, "Hydropower projects are intricate, require long-term commitment and substantial investment. However, they offer consistent availability, irrespective of wind or solar conditions. Uttarakhand holds extensive untapped potential in hydropower, which we aim to develop".
Kundan Green Energy anticipates completing these projects within 4-5 years, making a significant impact on the state's power production. The initiative is poised to generate approximately 500 direct and 2000 indirect jobs, incorporating advanced technology and environmentally sustainable practices. Despite Uttarakhand's substantial renewable energy potential, the state currently relies on power imports. Goel expressed optimism, stating, "We aspire to assist the state in attaining self-reliance in energy through renewable means, aligning with its socio-economic and developmental objectives".