NHPC has signed an initial deal to invest Rs 4,000 crore in 750 MW Kuppa Pumped Hydro Storage Project at Chhota Udaipur in Gujarat.

A company statement said that the statement was signed at an event organised at the Secretariat in Gandhinagar under the aegis of 'Vibrant Gujarat'.

The MoU was signed in the presence of Gujarat Chief Minister Bhupendra Patel, and state Energy Minister Kanubhai Desai, the MoU was signed by Arun Mahesh Babu, Managing Director, GPCL, and V Srivastava, Executive Director, Renewable Energy and Green Hydrogen, NHPC.

As per the terms of the MoU, the NHPC shall invest an estimated Rs 4,000 crore in the proposed 750 MW Kuppa Pumped Hydro Storage Project at Chhota Udaipur, Gujarat.

The implementation of this project will create significant employment opportunities and boost the local economy in the area, the statement said.