NHPC inks JV pact to set up renewable energy projects in Andhra Pradesh – EQ
In Short : NHPC has signed a joint venture agreement to establish renewable energy projects in Andhra Pradesh. This collaboration aims to enhance the state’s clean energy capacity and support India’s transition to sustainable power sources. The projects will focus on harnessing various renewable resources, contributing to the region’s energy needs and promoting environmental sustainability.
In Detail : State-owned NHPC on Saturday said it has inked a joint venture agreement with APGENCO for the implementation of pumped storage hydropower projects and other renewable energy projects in Andhra Pradesh.
In the first phase, two pumped storage projects (PSPs), Yaganti (1000 MW) and Rajupalem (800 MW), are considered for joint implementation. Subsequently, other projects shall be identified in the next phase, a company statement said.
The agreement was signed between NHPC Chairman & Managing Director RK Chaudhary and APGENCO Managing Director KVN Chakradhar Babu in the presence of Chief Minister N Chandrababu Naidu.
This marks a significant step in developing energy storage solutions in Andhra Pradesh, aligning with the national goals of achieving 500 GW of renewable energy by 2030 and Net Zero by 2070
