NHPC Limited has formed a joint venture (JV) with Andhra Pradesh Power Generation Corporation Limited (APGENCO) to develop renewable energy projects. NHPC and APGENCO hold equal equity participation of 50:50 in this new entity, APGENCO NHPC Green Energy Limited, which aims to plan, promote, and organise the integrated and efficient development of pumped storage hydropower projects and renewable energy projects, including solar, floating solar, and wind energy.
Initially, the JV will focus on implementing five pumped storage projects: Yaganti PSP (1,000 MW), Rajupalem PSP (800 MW), Gadikota PSP (1,200 MW), Aravetipalli PSP (1,320 MW), and Deenepalli PSP (750 MW). Additional projects, as identified and mutually agreed upon, will be taken up in the future.
In the same month, NHPC announced the auction results of 1,200 MW inter-state transmission system connected solar power projects, incorporating 600 MW/1,200 MWh energy storage systems, with Jindal India Renewable Energy, NTPC Renewable Energy, Kolar Solar Power (Rays Power Infra), ReNew Solar Power, and Adani Renewable Energy Holding Nine (Adani Green Energy Limited) having emerged as winners.
