In a significant boost to India’s renewable energy ambitions, NHPC and APGENCO have signed a joint venture agreement to develop pumped storage hydro power projects and other renewable energy initiatives in Andhra Pradesh . This strategic partnership, exchanged in the presence of Chief Minister Shri N. Chandrababu Naidu, aims to harness the state’s untapped potential in renewable energy.
Key Highlights:
– Initial Phase: Two projects, Yaganti PSP (1000 MW) and Rajupalem PSP (800 MW), will be jointly implemented, with an aggregate capacity of 1800 MW ¹.
– Future Plans: Subsequent phases will identify additional projects, aligning with national goals of 500 GW renewable energy by 2030 and Net Zero by 2070.
– Collaborative Efforts: NHPC and APGENCO will share expertise, resources, and risk to expedite project development.
Tapping into Andhra Pradesh’s Renewable Potential
This joint venture marks a crucial step in developing energy storage solutions in Andhra Pradesh, supporting the nation’s transition to clean energy. With NHPC’s expertise in hydroelectric power and APGENCO’s local knowledge, this partnership is poised to drive growth in the renewable energy sector.
Leadership Perspectives:
Shri R.K. Chaudhary, Chairman & Managing Director, NHPC, emphasized the importance of collaborative efforts in achieving India’s renewable energy targets. Shri KVN Chakradhar Babu, Managing Director, APGENCO, highlighted the potential for pumped storage hydro power projects to stabilize the grid and ensure a reliable energy supply.
A New Era for Renewable Energy in Andhra Pradesh
As India strives to meet its ambitious renewable energy goals, this joint venture between NHPC and APGENCO sets a precedent for successful collaborations in the sector. With a focus on sustainable development and energy security, Andhra Pradesh is poised to emerge as a leader in India’s clean energy transition.
