NHPC signs an MoU with APGENCO in order to develop PSPs and RE projects in Andhra Pradesh

24 Aug 2023 , 11:56 AM

In order to develop Pumped Storage Projects (PSPs) and Renewable Energy projects in Andhra Pradesh, NHPC Limited and Andhra Pradesh Power Generation Corporation Limited (APGENCO) signed an agreement on Wednesday. 

‘NHPC Limited has signed a Memorandum of Understanding (MoU) with Andhra Pradesh Power Generation Corporation Limited (APGENCO) on 23.08.2023 for ‘Implementation of Pumped Storage Hydro Power Projects and Renewable Energy (solar/floating solar/wind) Projects in Andhra Pradesh,’ according to a regulatory filing to the stock exchanges.

The Memorandum of Understanding (MoU) establishes a framework by which the two businesses may collaborate and coordinate to establish a Joint Venture Company (JVC) under the Companies Act, 2013, to ‘implement technologically and commercially viable Pumped Storage Hydro Power Project(s) and other Renewable Energy (Solar/Floating Solar/Wind) Project(s) allotted by Government of Andhra Pradesh, under Joint Venture mode in phases, operate the plants, trade and sell of power generated in

Additionally, earlier in June, NHPC and GRIDCO Odisha signed an MoU for the construction of Pumped Storage Projects and Renewable Energy Projects in the state. The agreement calls for the development of Renewable Energy Projects (Ground-Mounted Solar Projects/Floating Solar Projects) of at least 1,000 MW and Pumped Storage Projects of at least 2,000 MW in the state.

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