Oil and Natural Gas Corporation (ONGC) has collaborated with NHPC Limited to explore cost-effective pumped storage solutions. The Memorandum of Understanding (MoU), titled "Cooperation in Exploration & Development of Pumped Hydro Storage & other Renewable Projects," was officially executed on December 15, 2023. The signing ceremony involved the Executive Director (SBD&C) of NHPC and the Executive Director (JV&BD) of ONGC.