NHPC signed a Memorandum of Understanding (MoU) with Indian Oil Corporation (IOCL) on 27 June 2025 to jointly explore and develop Pumped Storage and other Renewable Energy Projects in India and abroad through a Joint Venture arrangement. 

The MoU signifies a strategic partnership aimed at fostering long-term cooperation between the two public sector entities. The collaboration will focus on identifying and pursuing opportunities in Pumped Storage, Hydroelectric, and various other renewable energy segments, both domestically and internationally.

Senior officials from both organisations were present during the signing ceremony, highlighting the importance of the alliance. The partnership is expected to contribute significantly to the expansion of the renewable energy portfolios of NHPC and IOCL, supporting their broader clean energy goals.

News source: E gov