Sun Petrochemicals has signed a memorandum of understanding (MoU) with the Telangana government to develop pumped storage hydro power projects in Nagarkurnool, Mancherial, and Mulugu districts.
The project involves an investment of Rs 450 billion and is expected to create 7,000 jobs.
The initiative will integrate solar power plants with a capacity of 5,440 MW. The MoU was signed during the World Economic Forum in Davos.
Sun Petrochemicals’ Managing Director, Dilip Shanghvi, praised Telangana’s growing appeal as an investment destination under the leadership of Chief Minister Revanth Reddy, noting the importance of the agreement for advancing the state’s and nation’s green energy goals.