THDC India, previously known as Tehri Hydro Development Corporation, has agreed to develop renewable power projects worth INR150bn ($1.8bn) in the Indian state of Karnataka.

Karnataka Power Corporation Limited (KPCL) and Karnataka Renewable Energy Development (KREDL) have signed an MoU with India’s state-owned Mini Ratna Category-I Enterprise.

Under the terms of the agreement, THDC India and Karnataka’s electric utilities will advance the development of several renewable power projects in the state.

The development includes a 100MW Floating Solar PV Plant at the Kadra Dam reservoir, a 170MW Ground mounted, rooftop Solar PV Plant on the premises of KPCL Plants, and a 1500MW Pumped Storage Plant at Varahi.

Karnataka Energy Minister K George said: “This is an excellent opportunity for the state, and we will begin work with the Central Government on a priority basis. The Central government has assured that the power generated under this MoU will prioritise the Karnataka state government.

“We also need power to address the state’s rising demands. Therefore, we will work towards executing this Memorandum of Understanding (MoU) at the earliest. This is a flagship scheme and benefits the state immensely.”

THDC India has experience in developing renewable, hydropower and pumped hydropower generation projects in the state of Karnataka.

Currently, the public sector utility is taking immediate steps to prepare the Detailed Project Reports (DPRs), conduct a feasibility study, and receive necessary approvals.

It is one of the premier power generators in India, with an installed capacity of 1587MW, and the collaboration in Karnataka will further strengthen its position in the renewable energy sector.

THDC India, in a statement, said: “These collaborative efforts encompass the development of a diverse range of Projects, spanning ground-mounted, floating solar Projects, and hybrid projects, including Pumped Storage Projects with a cumulative capacity of around 3270MW.”

“This strategic alliance not only underscores THDC’s commitment to clean energy but also signals a promising trajectory for the region’s energy landscape with the collaboration of leading Power entities of Karnataka.”