DVC eyes green energy in 2030 investment plans

Kolkata-based Damodar Valley Corporation (DVC) on Friday announced that it plans to invest Rs 20,000 crore by 2030 to install nearly 4,000 MW of solar power.

DVC is currently a major thermal power company with an installed generating capacity of 6,540 MW and an installed generating capacity of 6,700 MW of thermal power. The corporation and its plans could have a significant impact on its main business area, East India.

DVC expects to invest Rs 50,000-60,000 crore by 2030 to upgrade thermal, pumped-storage and solar power plants, taking its total installed capacity to about 16,700 MW.

DVC Chairman S. Suresh Kumar made these statements on the occasion of the 77th anniversary of the corporation, initially set up to manage floods in the Damodar Valley in Bihar and Bengal.

The company currently has just 14 MW of installed solar capacity and is implementing a 348 MW project in partnership with NTPC.

A battery storage capacity of 250 MW/hour is also being considered, Kumar added. Apart from 4,000 MW of solar power, the corporation plans to set up two pumped storage units at Logu Pahar in Jharkhand (1,500 MW) and Panchet in West Bengal (1,000 MW). The Panchet project is to be a joint venture with the West Bengal government. Talking about the dues from Jharkhand, a DVC official said the old dues have come down to around Rs 1,000 crore and the state is repaying it.

The new investments will increase DVC’s energy mix to almost 40% share in green energy, a trend we are seeing across many energy PSUs. Even hydro-focused PSUs like SJVN, as mentioned by SaurEnergy earlier, are moving heavily towards solar, in addition to wind and green storage, to change their overall generation mix. These PSU plans are critical, especially in regions where private generators have not been as keen to invest, such as Eastern India and parts of Northern India.