NHPC has signed a Memorandum of Understanding MoU with Damoder Valley Corporation DVC on 20 July 2022 to Explore formation of Joint Venture company JVC for exploring and setting up Hydropower and Pump Storage Projects The MoU heralds a new dawn in co-operation between the two Power Sector Organization in jointly harnessing the Hydropower Projects and Pump Storage Projects as Energy Storage Solutions in line with the national objective of Energy Transition ie 500 GW of renewable energy by 2030 and Net Zero by 2070 The MoU envisages joint development of mutually identified projects
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