Annual report 2023

ANDRITZ hydropower technology for Greenko

© Greenko

In India, pumped storage technology plays an important role in ensuring grid stability and coping with volatile solar and wind power supplies. In 2023, ANDRITZ supplied electromechanical equipment and services for a pumped storage power plant - with a capacity of 1,680 MW - being constructed by Greenko, one of the country’s leading energy transition and decarbonization solutions companies.

The successful fulfillment of the order expanded and consolidated ANDRITZ’s strong position as a reliable partner supplying proven hydropower technology to the Indian market, as India continues its transition towards a carbon-neutral electricity mix and sustainability goals. Greenko is committed to transforming supply-driven power from intermittent sources into reliable, dispatchable and controlled energy through digitalization and storage solutions.

MULTIPLE CONTRACTS FOR PUMPED-STORAGE PIONEER

ANDRITZ previously won an order in 2020 to supply the electromechanical systems and services for Greenko’s Pinnapuram pumped storage project in Andhra Pradesh. Thanks to the operational excellence demonstrated at Pinnapuram, Greenko again put its trust in ANDRITZ with the award of a second contract for electromechanical systems and services, this time at its Gandhi Sagar pumped storage project in the state of Madhya Pradesh.

According to Mahesh Kolli, Founder, Group President and Joint Managing Director of Greenko: “We have had a very active and result-oriented collaboration with ANDRITZ and plan to strengthen it further for our future projects as well. Our experience with ANDRITZ has been very encouraging, and we feel that there is ample scope for us to collaborate further. ANDRITZ also has been very forthcoming on our needs on expeditious implementation of projects, and together we have been able to evolve and innovate alternate means for accelerating progress.”

“We have been able to evolve and innovate the alternate means for accelerating the progress.”

Mahesh Kolli, Founder, Group President and Joint Managing Director of Greenko

ANDRITZ SUSTAINABLE ENERGY SOLUTIONS

The Gandhi Sagar project – with a power capacity of 1,440 MW – envisages the construction of an upper reservoir with a proposed live storage capacity of approximately 30 million m3 , along with the utilization of the existing lower Gandhi Sagar reservoir, which has a gross storage capacity of 7,320 million m3 . This is a “24/7 Carbon Free Energy” (CFE), which makes the ANDRITZ pumped storage solution possible and meets the urgent need to drive forward the rapid decarbonization across the global economy.

The contract awarded to ANDRITZ included the design, manufacture, supply, transportation, construction, testing and commissioning of seven reversible pump-turbine units, five 240 MW and two 120 MW units, main inlet valves and associated auxiliaries. The work was undertaken across multiple locations and led by our Indian subsidiary with state-of-theart manufacturing facilities.

Both globally and in India, there is a clear and distinct shift to sustainable energy solutions. Countries, communities, corporates and individuals are making significant efforts to decarbonize their energy consumption and overall operations. Significant investments are being made in various segments of sustainable energy solutions.

As Mahesh Kolli notes: “For the sustainable future of our planet, decarbonized energy supply is essential and energy storage is, I would say, the ‘holy grail’. Renewable energy sources of wind and solar have achieved scale and cost requirements and are now the lowest cost sources of new energy.”

Mr. Anil Chalamalasetty and Mr. Mahesh Kolli

Left: Mr. Anil Chalamalasetty: Founder, Chief Executive and Managing Director / Right: Mr. Mahesh Kolli: Founder, Group President and Joint Managing Director

© Greenko

INDIA MEETS LONG-TERM ENERGY SECURITY NEEDS

India currently has an installed power generation capacity of about 480 GW. With electricity demand estimated to grow at 8% per annum, 350 GW of new generation capacity needs to be added to ensure that 50% of overall energy derives from non-fossil fuel sources. The government of India has set a 500 GW target of non-fossil generation capacity by 2030.

Under the National Hydrogen Mission, the government also set a target of 5 million tons of green hydrogen production capacity by 2030. The Indian grid’s evolution as ‘‘One Nation, One Grid, One Frequency‘‘ has enabled the flexibility to add large renewable energy capacities. When combined with grid-scale storage such as pumped storage projects, India is well-positioned as one of the leaders of the global energy transition.

Greenko Group is one of India’s leading energy transition solutions companies, replacing fossil-fuel-based energy with wind, solar and hydro generation, which it combines with grid-scale multi-GW energy storage assets and an Intelligent Energy Cloud Storage Platform. Headquartered in Hyderabad, Greenko is leading the digitalization, decarbonization and decentralization of the Indian energy market by providing utility-scale, clean and affordable energy to meet the country’s long-term energy security needs.

The group currently has a renewable power capacity of 7.5 GW across 15 states with pipeline projects under implementation to reach 11 GW by 2025, and 25 GW by 2028. Its Intelligent Energy Cloud Storage Platform, meanwhile, will support the economy-wide shift towards a low-carbon energy mix, aiming to reduce the overall cost of energy for the country by 15%.

© Greenko
© Greenko

GREENKO LEADS THE WAY AS A SPECIALIST IN ENERGY STORAGE

Greenko has been a pioneer in the development of pumped storage projects in India. The company has adopted and championed this form of energy storage technology due to its suitability in offering long-duration, grid-scale, competitive energy storage capacity.

In the words of Mahesh Kolli: “As nations continue to build increasing renewable capacity and demand remains variable, energy storage will be critical to ensure efficient, reliable and sustainable operations of energy grids. Further, through our energy storage assets, our new platform ‘AM Green’ is enabling the transformation of carbon-free energy electrons into green hydrogen, green ammonia and other green molecules, thereby allowing for ‘Power to X’ solutions to enable the decarbonization of hard-to-abate sectors beyond just the energy space.”

Greenko has plans to expand its footprint outside India and is evaluating opportunities in other countries. The company is looking forward to developing competitive pumped storage plants across multiple geographies including the USA and Europe.

“Deep and strong relationships with trusted third parties like ANDRITZ are crucial to our success.“

Mahesh Kolli

In this context, says Mahesh Kolli, deep and strong relationships with trusted third parties such as ANDRITZ are crucial to the success of large-scale projects such as those that Greenko undertakes: “Contractors and suppliers are important partners for any major infrastructure project, including pumped storage plants. To that extent, it is essential that project developers take a partnership approach to engage with contractors and suppliers. Greenko involves its contractors and suppliers in the early stages of project development because this is critical for the timely completion of projects. We also keep our contractors and suppliers closely coordinated during the design and engineering stage of the project, thereby ensuring that their inputs and expertise can be leveraged.”

Pumped storge power plant

Electricity from solar and wind power is used to pump water up into the upper basin; at peak times, the water is released to produce hydroelectric power.

Pumped storage power plant
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