New Delhi: State-run NTPC Ltd and NHPC Ltd have signed a memorandum of understanding (MoU) on August 10 for cooperation in power sector and exploring development of hydropower projects and any other mutually beneficial business opportunity abroad. "In a significant development for the Indian power sector, a Memorandum of Understanding (MoU) was signed between NHPC and NTPC for 'cooperation in overseas power sector.' The MoU includes taking up of project development, capacity building, O&M, RMU and other consultancy assignments outside India jointly by NHPC and NTPC," said NHPC in an official statement.
The MoU was signed by YK Chaubey, Director (Technical), NHPC, and Ujjwal Kanti Bhattacharya, Director (Projects), NTPC.
As per the MoU, the broad areas of cooperation between NHPC and NTPC will include establishing collaboration for carrying out feasibility study for new hydropower projects and related infrastructure, facilities in countries of mutual interest, development of hydro power projects abroad subject to techno-commercial feasibility, collaboration and exchange of information in the areas of mutual interest and collaboration in any other mutually beneficial overseas business opportunity.
NTPC has increased thrust on hydro development for a balanced portfolio for long-term sustainability. The first step in this direction was taken by initiating investment in Koldam Hydro Electric Power Project located on Satluj river in Bilaspur district of Himachal Pradesh. Other hydro project under construction include Tapovan Vishnugad, Lata Tapovan, Rammam III, THDC-Vishnugad Pipalkoti, THDC-Tehri PSP and NEEPCO-Kameng. In a presentation to its investors, NTPC has said that it is looking to shape its identity as an integrated energy company with global presence by 2032. While power generation will continue to be the mainstay of its business, NTPC is rapidly expanding its footprint in the renewable energy sector.