In a significant move towards sustainable energy, NHPC Limited, India’s premier hydropower company, has partnered with Andhra Pradesh Power Generation Corporation (APGENCO) Limited, a government undertaking. This strategic collaboration aims to implement Pumped hydro storage projects and renewable energy projects in the state of Andhra Pradesh.
The first phase of this partnership focuses on implementing two identified pumped hydro storage projects with a combined capacity of 1,950 MW. These projects, named Kamlapadu (950 MW) and Yaganti (1,000 MW), hold the potential to not only contribute to clean energy but also to generate substantial employment opportunities, fostering local economic growth in the region.
The MoU was signed in Tadepalli, Guntur, Andhra Pradesh on 23rd August 2023, in the presence of Chief Minister of Andhra Pradesh Shri Y. S. Jagan Mohan Reddy. The agreement was signed by the Director (Finance), NHPC, Shri R.P. Goyal and Managing Director, APGENCO, Shri K. V. N. Chakradhar Babu, in the presence of other officers of both organisations.
The Memorandum of Understanding (MoU) aims to leverage pumped storage projects as energy storage solutions, aligning with the national goal of achieving 500 GW of installed electricity capacity from non-fossil fuel sources by 2030 and attaining Net Zero by 2070.
The pumped storage system effectively utilises excess grid power, often generated by thermal power stations or other sources, to lift water from lower to upper reservoirs. This stored energy is then released during peak demand periods when power availability is limited.
NHPC Limited, renowned as India’s premier Hydropower Company, plays a pivotal role. With a total installed capacity of 7,097.2 MW in renewable power (including wind and solar), NHPC operates through 25 power stations, with 1,520 MW generated via its subsidiaries.