Sun Petrochemicals Inks MoU for Rs 45,500-cr Pumped Storage Projects

Sun Petrochemicals has signed a memorandum of understanding (MoU) with the Telangana government to develop large-scale pumped storage hydro power projects in the Nagarkurnool, Mancherial, and Mulugu districts. The project will involve an investment of Rs 45,000 crore and is expected to generate employment for 7,000 people.
 

The initiative is aligned with the green energy transition, aiming to integrate solar power plants with a capacity of 5,440 MW, significantly contributing to the state's socio-economic development. The MoU was signed during the World Economic Forum held in Davos.
 

Managing Director of Sun Pharmaceutical Industries and MD of Sun Petrochemicals, Dilip Shanghvi, highlighted the growing attractiveness of Telangana and further stated, "Telangana is becoming an irresistible force of an investment destination since the last 12 months, under the leadership of Chief Minister Revanth Reddy. We are sure this landmark agreement will have a huge impact on not only the state but the entire country given the significance of green energy to our economy and society."