Author: PPD Team Date: 26/02/2025
Madhya Pradesh has signed multiple Memorandums of Understanding (MoUs) with key energy companies at the Global Investors Summit 2025, securing investments across renewable energy, pumped storage, and other infrastructure projects. These include:
- SECI: The Solar Energy Corporation of India Limited (SECI) signed an MoU with the state government to develop a 200 MW solar project in Dhar and a 1,000 MWh battery storage project. SECI has proposed a phase-wise investment of Rs 25 billion for solar and storage projects in the region.
- Avaada Power: Avaada Power Private Limited committed Rs 500 billion for renewable energy projects, including 6,000 MW of solar, 700 MW of wind, and 2,100 MWh of battery energy storage systems (BESS) by 2030.
- NTPC Group: NTPC Limited and its subsidiary, NTPC Green Energy Limited (NGEL), signed multiple MoUs to invest over Rs 2,000 billion in solar, wind, pumped hydro storage, and carbon-neutral initiatives. This includes a 20 GW renewable energy project in partnership with Madhya Pradesh Power Generating Company (Rs 1,200 billion) and an Rs 800 billion agreement with Madhya Pradesh Power Management Company for non-fossil fuel power plants. Additionally, NTPC is developing an 800 MW pumped hydro storage project with an investment of Rs 40 billion.
- Torrent Power: Torrent Power signed an MoU to invest Rs 265 billion in developing 2.2 GW of pumped storage capacity and 2 GW of solar and wind energy. The company is also exploring investments in thermal power in the state.
- Adani Group: Adani Group announced an investment of over Rs 1,100 billion (USD 12.7 billion) across multiple sectors, including pumped storage, cement, mining, smart meters, and thermal energy. The investment is expected to generate more than 1,20,000 jobs by 2030. The company is also in discussions with the state government for an additional Rs 1,000 billion investment in a greenfield smart city, airport, and coal-gasification project.