NHPC inks MOU with APGENCO Limited for Implementation of Pumped Storage Hydropower Projects & other Renewable Energy Projects under JV Mode

NHPC
NHPC inks MOU with APGENCO Limited for Implementation of Pumped Storage Hydropower Projects & other Renewable Energy Projects under JV Mode

Forwarding one more step ahead towards Clean & Green energy, NHPC signed Memorandum of Understanding with Andhra Pradesh Power Generation Corporation (APGENCO) Limited (A Govt. of Andhra Pradesh Undertaking) for Implementation of Pumped Hydro Storage Project(s) and Renewable Energy Project(s) under Joint Venture Mode in the State of Andhra Pradesh on 23rd August 2023 in the august presence of Hon’ble Chief Minister, Govt. of Andhra Pradesh, Shri Y.S. Jagan Mohan Reddy and other dignitaries.
The MoU was signed by Shri R.P. Goyal, Director (Finance), NHPC and Shri K.V.N. Chakradhar Babu, IAS, Managing Director, APGENCO. Senior officers from both the organizations were also present.
 
 
The MOU envisages Implementation of two Identified Pumped Hydro Storage Projects of capacity aggregating to 1950 MW namely Kamlapadu-950 MW and Yaganti-1000 MW PSPs in the first phase. The implementation of these projects shall create significant employment opportunity and boost the local economy in the region.
 
The MoU entails a new dawn of harnessing the Pump Storage Projects jointly by NHPC and APGENCO as Energy Storage Solutions to achieve the national objective of Clean & Green Energy i.e 500 GW of renewable energy by 2030 and Net Zero by 2070.
NHPC Limited is India’s premier Hydropower Company. NHPC’s total installed capacity is 7097.2 MW of renewable power (including Wind & Solar) through its 25 power stations including 1520 MW through subsidiary.
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24.08.2023
Faridabad