• Powering UP with Hydro Storage
• A Game-Changer for Renewable Energy
Unmesh Gujarathi
Sprouts News Exclusive
Adani Green Energy Limited (AGEL) has secured a major contract in Uttar Pradesh, receiving a Letter of Award (LOA) from Uttar Pradesh Power Corporation Limited (UPPCL). The project involves developing a 1,250 MW pumped hydro storage facility in the Son Bhadra district. With a minimum commitment of 40 years, the project is expected to be completed within six years. Sprouts News reports that this initiative marks a significant step in India’s renewable energy expansion.
• Expanding Renewable Energy with Hydro Projects
According to Sprouts News, AGEL is diversifying its portfolio by integrating energy storage solutions with its solar, wind, and hybrid projects. The company plans to add over 5 GW of hydro PSP capacity by 2030. Construction has already started on key projects:
Andhra Pradesh– 500 MW at Chitravathi River and 1,800 MW at Gandikota
– Maharashtra– 1,500 MW at Tarali
These projects will play a crucial role in stabilizing the power grid and ensuring round-the-clock renewable energy supply.
• How Pumped Hydro Storage Works
Pumped hydro storage uses solar power to pump water into reservoirs during the day, which is then released at night to generate electricity during peak demand. This system enhances grid stability, reduces peak load, and provides a clean and efficient energy solution. Sprouts News highlights that AGEL’s commitment to hydro PSP technology will strengthen India’s energy infrastructure and accelerate the transition to renewable power.
Also Read: Sprouts News Exposes Panvel Blasts
Controversies Surrounding fraudster Gautam Adani and Adani Group
– Hindenburg Report Allegations (2023)
– US-based Hindenburg Research accused Adani Group of stock manipulation and accounting fraud.
– Report led to a massive stock market crash, wiping billions from Adani Group’s market value.
– Adani Group denied allegations and called it an attack on India’s economy.
– Political Favoritism & Government Ties
– Critics allege close ties between Adani and Indian Prime Minister Narendra Modi.
– Accusations of receiving preferential treatment in government contracts, especially in infrastructure and energy sectors.
– Environmental Concerns & Violations
– Adani’s Carmichael coal mine project in Australia faced protests over environmental damage and impact on the Great Barrier Reef.
– Allegations of deforestation and displacement of indigenous communities in India.
– Debt and Financial Risks
– Adani Group has taken on huge debts for expansion, raising concerns about financial sustainability.
– Reports suggest Indian banks have high exposure to Adani’s debt, raising fears of economic risk.
– Stock Market & SEBI Investigations
– Indian regulatory body SEBI (Securities and Exchange Board of India) investigated Adani for alleged stock manipulation.
– Allegations that Adani used offshore shell companies to inflate stock prices.
– Port & Airport Acquisitions Under Scrutiny
– Accusations of unfairly winning bids for airports and seaports, sidelining competitors.
– Takeover of Mumbai Airport from GVK Group sparked legal and ethical concerns.
– Alleged Tax Evasion & Offshore Links
– Reports claim Adani Group used offshore tax havens to evade Indian taxes.
– Documents from the Panama Papers and Pandora Papers allegedly link Adani businesses to tax havens.
– Labour Rights & Worker Exploitation
– Allegations of poor working conditions and exploitation of workers at Adani-owned projects.
– Reports of labor rights violations in Australia and India.
– Coal Imports & Overpricing Scam
– Allegations that Adani over-invoiced coal imports to inflate costs and exploit Indian consumers.
– Investigation by the Directorate of Revenue Intelligence (DRI) into the scam.
– Press Freedom & Media Influence
– Concerns over Adani’s acquisition of NDTV, one of India’s major news networks.
– Fears that media control could limit critical coverage of the Adani Group.
