| NHPC, APGENCO join hands for pumped storage Hydropower Projects, renewable energy | | |
agencies
NEW DELHI, Aug 24: NHPC, a leading hydropower company in India, has taken another significant step towards advancing clean and green energy by signing a Memorandum of Understanding (MoU) with Andhra Pradesh Power Generation Corporation (APGENCO) Limited. The MoU aims to implement Pumped Hydro Storage Projects and Renewable Energy Projects under a Joint Venture Mode in the state of Andhra Pradesh.
The MoU signing ceremony took place on August 23, 2023, in the presence of the Hon'ble Chief Minister of Andhra Pradesh, Y.S. Jagan Mohan Reddy, and other dignitaries. During the ceremony, R.P. Goyal, Director (Finance) of NHPC, and K.V.N. Chakradhar Babu, IAS, Managing Director of APGENCO, signed the MoU.
Under the terms of the MoU, NHPC and APGENCO will collaborate on the implementation of two Pumped Hydro Storage Projects with a combined capacity of 1950 MW in the first phase. These projects, named Kamlapadu (950 MW) and Yaganti (1000 MW) Pumped Storage Projects, are designed to provide energy storage solutions that align with the national objectives of achieving 500 GW of renewable energy by 2030 and attaining net-zero emissions by 2070.
The implementation of these projects is expected to create substantial employment opportunities and contribute to the local economy in the region. This joint effort between NHPC and APGENCO represents a significant stride towards clean energy solutions and underscores the commitment to renewable energy growth in India.
NHPC Limited stands as a premier hydropower company in India, contributing to the nation's renewable energy capacity. With a total installed capacity of 7097.2 MW, NHPC operates through 25 power stations, including subsidiaries, encompassing hydropower, wind, and solar sources. |
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