The capacities are being explored in Odisha, Maharashtra, Madhya Pradesh and Andhra Pradesh, director finance Rajendra Prasad Goyal told ET.
However, the detailed project report and the approvals are likely to take a couple of years for at least some of these capacities to start building. “A timeline is not decided yet as the project viability will be checked first,” he added.
The company also has plans to set up solar energy capacities, but hydro power has ample opportunities currently. Pumped hydro storage and battery energy storage systems have been identified by the government as being essential for balancing the grid with renewable energy addition.