NHPC Limited has inked a Memorandum of Understanding (MoU) with the Andhra Pradesh Power Generation Corporation (APGENCO) Limited, an undertaking of the Government of Andhra Pradesh. The agreement paves the way for the implementation of Pumped Hydro Storage Projects and Renewable Energy Projects in the state of Andhra Pradesh.
The first phase of this partnership focuses on the realization of two identified Pumped Hydro Storage Projects with a combined capacity of 1,950 MW. These projects, Kamlapadu (950 MW) and Yaganti (1,000 MW), will contribute to India’s clean energy portfolio and generate substantial employment opportunities, invigorating the local economy. The projects will be executed through a Joint Venture mode, showcasing a collaborative approach towards sustainable energy solutions.
The MoU was formally signed in Tadepalli, Guntur, Andhra Pradesh, on August 23, 2023, in the presence of the Chief Minister of Andhra Pradesh. The signing ceremony was attended by the Director (Finance) of NHPC, and the Managing Director of APGENCO, along with other high-ranking officials from both organizations.
One of the primary objectives of this MoU is to harness Pumped Storage Projects as Energy Storage Solutions, aligning with India’s national energy goals. These projects play a vital role in achieving the national objective of clean and green energy, with a target of 500 GW of installed electricity capacity from non-fossil fuel sources, including Renewable Energy and Nuclear, by 2030. Additionally, it contributes to the overarching goal of realizing Net Zero emissions by 2070.
Pumped Storage Systems effectively utilize surplus grid power, which is available from thermal power stations or other sources, to pump water from a lower reservoir to an upper reservoir. This stored energy can then be released and converted back into electricity during peak demand periods, addressing power scarcity challenges efficiently.
NHPC Limited boasts a total installed capacity of 7,097.2 MW in renewable power, which includes Wind and Solar energy. This capacity is distributed across 25 power stations, including 1,520 MW through its subsidiaries. With this new partnership in Andhra Pradesh, NHPC takes a significant step towards bolstering the nation’s clean energy capabilities, reducing carbon emissions, and contributing to a sustainable and eco-friendly future.