NHPC to set up hydropower projects

01 Jul 2022

NHPC has announced to the stock exchanges the signing of a Memorandum of Understanding (MoU) with the Damoder Valley Corporation (DVC).

According to the government-released data, the company signed MoU with DVC on July 20, 2022 to explore the formation of a joint venture company. The JVS is for exploring and setting up hydropower and pump storage projects.

Further, the MoU heralds a new dawn in cooperation between the two Power Sector Organization in jointly harnessing the hydropower projects and pump storage projects as energy storage solutions in line with the objective of Energy Transition, i.e., 500 GW of renewable energy by the year 2030 and Net Zero by 2070. The MoU envisages joint development of mutually identified projects.

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