NHPC Limited, a leading hydropower entity in India, has taken a significant stride towards advancing clean and sustainable energy by forging a Memorandum of Understanding (MoU) with the Andhra Pradesh Power Generation Corporation (APGENCO) Limited. This venture, supported by the Government of Andhra Pradesh, aims to implement Pumped Hydro Storage Projects and Renewable Energy Projects within the state.
In its initial phase, the MoU outlines the execution of two Pumped Hydro Storage Projects with a combined capacity of 1,950 MW. These projects, named Kamlapadu (950 MW) and Yaganti (1,000 MW), are anticipated to not only bolster the local economy but also create substantial job opportunities within the region. The collaborative projects will be carried out through a Joint Venture approach. The formal signing ceremony of the MoU took place on August 23, 2023, in Tadepalli, Guntur, Andhra Pradesh.
The event was graced by the presence of Chief Minister Shri Y. S. Jagan Mohan Reddy. The agreement was officially executed by NHPC’s Director (Finance), Shri R.P. Goyal, and APGENCO’s Managing Director, Shri K. V. N. Chakradhar Babu, alongside other key representatives from both organizations. The primary objective of the MoU is to harness the potential of Pumped Storage Projects as efficient Energy Storage Solutions.
This aligns with India’s national vision of achieving 500 GW of electricity capacity from non-fossil fuel sources (including Renewable Energy and Nuclear) by 2030, and ultimately realizing a Net Zero status by 2070. The concept of Pumped Storage Systems involves using surplus grid power, often sourced from thermal power stations, to elevate water from lower to upper reservoirs. This stored energy can then be released during peak demand periods when power supply is strained.
NHPC Limited, renowned as India’s premier Hydropower Company, currently boasts a total installed capacity of 7,097.2 MW in the realm of renewable power, encompassing both Wind and Solar energy sources. This figure incorporates power generation across 25 stations, with an additional 1,520 MW generated through subsidiary entities.