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Greenko, Adani, and JSW to Drive India’s 51 GW Pumped Storage Ambition by 2032

Greenko, Adani Green Energy, and JSW Energy are set to lead India’s ambitious pumped storage hydropower (PSH) expansion, together developing nearly two-thirds of the planned 51.24 GW capacity by 2032, as per Central Electricity Authority (CEA) data. Greenko will develop the largest share at 13.2 GW, followed by Adani with 11.4 GW and JSW Energy with 7.7 GW. This capacity will primarily come up in Andhra Pradesh and Maharashtra, which will host 57% of the total projects.

Pumped storage systems are key to stabilizing the grid as India adds increasing amounts of intermittent renewable energy, especially solar and wind. These systems store energy by pumping water to a higher reservoir during periods of low demand and releasing it to generate power during peak demand.

Currently, India has less than 5 GW of installed pumped storage, with around 10 GW under construction. Greenko’s 1,680 MW Pinnapuram project in Andhra Pradesh is slated to be commissioned in September 2025. Adani Green’s first 500 MW project near the Chitravathi dam is expected by 2027. Adani has emphasized that pumped storage offers superior internal rates of return compared to standalone solar or wind projects.

These projects are being pursued through a mix of self-identification by private firms, competitive bidding, and public sector allocations. The move marks a significant shift in India’s energy storage strategy, positioning PSH as a cornerstone for energy transition and grid reliability.