A Memorandum of Understanding was inked by the Karnataka Power Corporation Limited and the Tehri Hydro Development Corporation Limited to pursue the expedited development of many power projects valued at Rs 15,000 crore.

There will be hydro, ground-mounted and floating solar, and pumped storage projects among the offerings. The agreement was signed by Karnataka Energy Department Additional Chief Secretary Gaurav Gupta and THDCL Director (Technical) Bhupender Gupta.

The MoU pertains to the development of a 100 MW floating solar PV plant at the Kadra Dam reservoir in Uttara Kannada district and the establishment of 170 MW ground-mounted rooftop solar PV plant on the premises of KPCL plants and a 1500 MW pumped storage plant at Varahi in Shimoga district, according to a press release quoting Energy Minister K J George.

"The Centre 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,” George was quoted as saying.