NHPC signs MOU with APGENCO for Implementation of Pumped Storage Hydro Power Projects
NHPC signed Memorandum of Undertaking with Andhra Pradesh Power Generation Corporation Limited for implementation of Pumped Hydro Storage Projects & Renewable Energy Projects under joint venture Mode in Andhra Pradesh on 23-8-2023 in the august presence of Shri Y. S. Jagan Mohan Reddy, Chief Minister of Andhra Pradesh and other dignities.
The MoU was signed by R. P. Goyal, Director (Finance) of NHPC and Shri K.V.N. Chakradhar Babu, Managing Director, APGENCO.
The MoU has envisages implementation of two identified pumped Hydro Storage Projects of capacity aggregating to 1950 MW namely Kamalapadu 950 MW & Yaganti1000 MW PSP’s in the first phase. The implementation of these projects shall create significant employment opportunity and boost local economy in the region.
The MoU entails a new dawn of amassing the pump storage projects jointly by NHPC & APGENCO as Energy Storage solutions to achieve the national objective of Clean & Green Energy i.e, 500 MGW Renewable Energy by 2030 and Net Zero by 2070.