NTPC India is considering building a three GW pumped hydro storage project in Tamil Nadu, as it aims to develop around eight GW capacity overall.

For this, the power utility firm is at the advanced stages of signing an agreement with the state government.

It would take about two years for the detailed project report (DPR), while the construction work may be completed in five to six years. NTPC is also planning 1,200 MW of storage capacity in Chhattisgarh, 1,000 MW in Gujarat, and 1,000 MW in Meghalaya.

Currently, pumped hydro storage (PHS) is seen to be commercially viable, and is attracting investments. PHS accounted for most of the grid-scale energy storage tender issuance (about 56 percent) in 2023.

The company had earlier said it was planning about 14 GW of pumped storage projects across nine states.