In a bid to promote the development of pump storage projects across India, the government has released new guidelines aimed at encouraging investment in this important sector. The guidelines were unveiled by the Ministry of Power and will help to boost the country's energy storage capabilities.
The guidelines aim to attract more investment in this sector by providing clear and comprehensive instructions on how to develop pump storage projects. They cover everything from the planning and development stages to the operation and maintenance of these projects.
The guidelines also include details on how to secure funding for pump storage projects, as well as information on the various regulatory and policy frameworks that govern this sector.
According to the Ministry of Power, pump storage projects have the potential to play a key role in India's energy mix, particularly as the country seeks to reduce its reliance on fossil fuels and increase its use of renewable energy sources.
The guidelines are expected to provide a much-needed boost to the development of pump storage projects in the country, helping to create new jobs and support economic growth in the process.
Commenting on the release of the guidelines, a spokesperson for the Ministry of Power said: "We are delighted to announce the release of these guidelines, which we believe will be an important tool in promoting the development of pump storage projects across India. With their potential to store renewable energy and support grid stability, pump storage projects have a crucial role to play in the country's energy mix, and we are confident that these guidelines will help to unlock their full potential."
The new guidelines come after the release of draft guidelines back in February and have been created taking into account comments made on the draft document.