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Indian Express
25-05-2025
- Business
- Indian Express
Greenko, Adani, JSW to build bulk of India's 51 GW pumped storage pipeline
Three players—Greenko, Adani Green, and JSW Energy—are set to develop nearly two-thirds of India's planned 51 gigawatt (GW) pumped storage hydropower capacity by 2032, according to new data from the Central Electricity Authority (CEA). Of the total capacity expected to come online, over half—57 per cent—will be located in Andhra Pradesh and Maharashtra. Together with battery energy storage systems (BESS), pumped storage is set to play a key role in balancing India's power grid amid increasing integration of variable renewable capacities like solar and wind. Pumped storage projects typically use two reservoirs at different elevations. During periods of low demand, solar power is used to pump water from the lower to the upper reservoir. This water is released back down to generate electricity during periods of high demand in non-solar hours. At present, India has less than 5 GW of installed pumped storage capacity, and plans to increase it over tenfold by 2032. The CEA expects 39 projects to get commissioned by then, totalling 51.24 GW. Around 10 GW is currently under construction, including 3 GW slated for commissioning in the current financial year. These projects were either self-identified by private developers, awarded through competitive bidding, or allotted to public sector enterprises. Of the total pipeline, Hyderabad-based Greenko Group is set to develop 13.2 GW (25 per cent), Adani Green 11.4 GW (22 per cent), and JSW Energy 7.7 GW (15 per cent), according to data with the CEA. The above companies did not respond to requests for comment. Greenko, which currently has a small portfolio of run-of-river hydroelectric projects, will commission its first 1,680 MW pumped storage project in Pinnapuram, Andhra Pradesh in September this year. In an earnings call on April 29, Adani Green executives said the company is 'all set for gigawatt capacities' in pumped storage. Stressing on the economic case for storage projects, Raj Kumar Jain, head of business development, said, 'The IRRs (internal rate of return) are better than what you get in a normal plain vanilla solar or wind project by close to couple of percentage points.' In an earlier call, executives said pumped storage is the 'next frontier for a higher return portfolio'. Adani Green's first 500 megawatt (MW) project, located near the Chitravathi dam in Andhra Pradesh, is expected to be commissioned in 2027. In addition to Greenko's maiden project, two other pumped storage projects are scheduled for commissioning this year—THDC India's 1,000 MW project in Tehri, Uttarakhand, in October; and TANGEDCO's 375 MW project in Kundah, Tamil Nadu, by December. Pumped storage projects typically have longer gestation periods—around five years—due to the need for environmental clearances and more complex civil works. However, unlike BESS, pumped storage remains the dominant form of energy storage globally, accounting for over 90 per cent of installed capacity. While BESS offers faster and more flexible deployment, it faces supply-side risks, with much of the global battery manufacturing concentrated in China. Recognising the trade-offs and the need for energy storage at large, Indian policymakers are pursuing a balanced strategy that supports both technologies. India has pumped storage potential of 176 GW, with around 40 per cent—70 GW—in Maharashtra and Andhra Pradesh alone. By 2032, 16 GW will be developed in Andhra Pradesh and 13 GW in Maharashtra. Aggam Walia is a Correspondent at The Indian Express, reporting on power, renewables, and mining. His work unpacks intricate ties between corporations, government, and policy, often relying on documents sourced via the RTI Act. Off the beat, he enjoys running through Delhi's parks and forests, walking to places, and cooking pasta. ... Read More
Fashion Network
02-05-2025
- Business
- Fashion Network
Sock brand Bonjour eyes Rs 350 crore revenue in coming two years
Indian sock and inner wear brand Bonjour is targeting revenue of Rs 350 crore over the next two years, driven by expansion into new retail markets, an enhanced digital presence, and a growing product portfolio, retaining socks at its core. "We aim to open around 50 exclusive stores in the NCR region, with a store every 10 to 15 kilometres," said Bonjour's founder Raj Kumar Jain in an interview with India Retailing. "It's not the kind of product people plan long trips for, so we see the potential to set up these many in NCR soon." Bonjour will expand in states such as Haryana, Punjab, Uttar Pradesh, and Himachal Pradesh. In the NCR region, Bonjour will primarily on high streets for its expansion, and to add up to 7,000 new retail partners by the 2026 fiscal year. "We have adopted a backward integration model, overseeing our own yarn production, garment manufacturing, and sock production," said Jain. "These integrated divisions currently contribute a total revenue of approximately Rs 250 crore, and we have set our sights on reaching Rs 350 crore in the next two years." Bonjour currently offers around 3,000 SKUs across categories including socks, top and bottom wear, inner wear, and accessories, according to its Facebook page. Socks continue to account for the largest share of its store footprint. Bonjour was founded in 1988 by Raj Kumar Jain and states that it operates as the only vertically integrated sock brand in India, with control over its entire manufacturing process across 250,000 square feet of factory space. The business currently serves more than 17,000 retailers and 180 distributors across India and operates over 17 exclusive brand outlets in cities including Delhi, Dehradun, and Ambala.
