A pact was inked between the state government and the company in this regard, in the presence of Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu, a statement issued here said.
The Memorandum of Understanding was signed between Managing Director of Horticultural Produce Marketing amp; Processing Corporation, Sudesh Kumar Mokhta, and Chairman of the Geotropy Iceland, Thomas Ottohansson.
The CA store would have a storage capacity of 1,000 tonnes and would be constructed at an estimated cost of Rs 8 crore.
The state government would provide all possible assistance to the company for realising this project, as geothermal energy was a renewable source that minimises greenhouse gas emissions, the Chief Minister said.
"The adoption of geothermal technology is useful in reducing carbon footprints, aligning with the state government's goal to preserve the environment. I am hopeful that the first geothermal technology-based CA store would be complete within a period of one year," he said.
In the times to come, additional geothermal technology-based CA stores would be established in the Sutlej Valley area, the Chief Minister said and directed the concerned officials to explore the possibilities of utilising this new age technology for electricity generation in Himachal Pradesh.
The chairman of the company Thomas Ottohansson provided insights into the project, underscoring the advantages of employing geothermal technology for the storage facility