New Delhi: State-owned NHPC Limited on Saturday said it has inked a joint venture agreement with APGENCO for the implementation of pumped storage hydro power projects and other renewable energy projects in Andhra Pradesh.
In first phase, two pumped storage projects (PSPs) - Yaganti (1000 MW) and Rajupalem (800 MW) - are considered for joint implementation. Subsequently, other projects shall be identified in next phase, a company statement said.
The agreement was signed between NHPC Chairman & Managing Director RK Chaudhary and APGENCO Managing Director KVN Chakradhar Babu in the presence of Chief Minister N Chandrababu Naidu.
This marks a significant step in developing energy storage solutions in Andhra Pradesh, aligning with the national goals of achieving 500 GW of renewable energy by 2030 and net-zero by 2070.
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