NHPC Partners with APGENCO for Green Energy Projects

NHPC Limited, India's leading hydropower firm, and Andhra Pradesh Power Generation Corporation (APGENCO) Limited, an entity of the Andhra Pradesh government, have inked a pivotal Memorandum of Understanding (MoU) to propel the development of Pumped Hydro Storage Projects and Renewable Energy Initiatives within the state.The initial phase of this MoU revolves around two Pumped Hydro Storage Projects with a combined capacity of 1,950 Megawatt. The identified projects, Kamlapadu (950 MW) and Yaganti (1,000 MW), will be executed as Joint Ventures, fostering local economic growth and generating substantial employment opportunities.The agreement, signed on August 23, 2023, in Tadepalli, Guntur, Andhra Pradesh, marked the presence of Chief Minister Shri Y. S. Jagan Mohan Reddy. The pact was endorsed by NHPC's Director (Finance), Shri R.P. Goyal, and APGENCO's Managing Director, Shri K. V. N. Chakradhar Babu.The MoU's primary objective is to employ Pumped Storage Projects as Energy Storage Solutions in alignment with India's vision to achieve 500 GW of non-fossil fuel based electricity capacity by 2030 and attain Net Zero by 2070.Utilising surplus power during off-peak hours, the Pumped Storage System operates by transferring water from a lower reservoir to an upper reservoir. This stored energy is subsequently released during peak demand, effectively mitigating power shortages.With NHPC's impressive track record encompassing a total installed renewable capacity of 7,097.2 MW, this collaboration solidifies their commitment to green energy and bolsters India's sustainable energy landscape.