Kundan Green Energy has signed an MoU with the  Uttarakhand Government to develop 80 MW hydropower in Uttarakhand at a cost of Rs 1000 crore.

Apurve Goel, Director, Kundan Green Energy, said “We are committed to the national agenda of optimizing renewable energy in India. Hydropower is complex, long haul and capital intensive. At the same time, it is always available, since it is independent of wind speeds or sunshine. The state of Uttarakhand has very vast untapped potential in hydropower, which we are working to develop.”

The Mou was signed in the presence of the Chief Minister of Uttarakhand, Pushkar Singh Dhami and the Principal Secretary (Power), Government of Uttarakhand.

With the setting up of these greenfield projects in a 4-5 year estimated timeframe, Kundan Green Energy will create employment for 500 people directly and an estimated 2000 people indirectly.