APGENCO & NHPC join hands to develop solar & pumped storage projects

Hyderabad: In a significant development Andhra Pradesh Power Generation Corporation Limited (APGENCO) and National Hydroelectric Power Corporation Limited (NHPC) have signed a Joint Venture agreement for the implementation of large-scale renewable energy projects in Andhra Pradesh.

This Joint Venture will focus on the development of solar power plants and pumped storage projects to meet the growing energy demands of Andhra Pradesh while reducing the carbon footprint.

Representatives of APGENCO and NHPC had signed the JV in the presence of chief minister N Chandrababu Naidu in Amaravati on Friday.

APGENCO, with an installed capacity of 8,800 MW, currently supplies around 47pc of Andhra Pradesh’s energy requirements. As an initiative in Renewable Energy (RE) establishment in 2015, solar power plants of 405 MW, have been established in the state by March 2019. In the next five years from now, APGENCO plans to add an additional 8,560 MW of power capacity through various renewable energy initiatives.

NHPC, with an existing installed capacity of 7,100 MW, is on a path to expand its portfolio with an additional 46,400 MW of green energy projects across the country, making it a pivotal player in India's renewable energy transformation.

Andhra Pradesh is poised to lead in renewable energy development with the Government of India and the Government of Andhra Pradesh fully committed to combating climate change and pollution by promoting solar, wind, and pumped storage projects.

New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) has identified 36 locations for pumped storage projects with a combined capacity of 39,000 MW, demonstrating the state’s commitment to renewable energy development.

The Joint Venture between APGENCO and NHPC will see the development of 5,070 MW across five pumped storage projects, which are currently in various stages of development and expected to be commissioned within the next five years.

Chief Minister Nara Chandrababu Naidu expressed his deep commitment to renewable energy and lauded the efforts of both APGENCO and NHPC. He remarked that this Joint Venture is a key milestone that will not only secure the energy future of Andhra Pradesh but also contribute significantly to the country’s overall renewable energy targets. He also emphasized the need for such green energy initiatives to combat the global challenges of climate change and rising pollution levels.

State Energy Minister Gottipati Ravi Kumar praised the APGENCO-NHPC Joint Venture as a key milestone in securing Andhra Pradesh's energy future and contributing to national renewable energy goals. He emphasized the importance of green energy initiatives in tackling climate change and pollution.

Speaking on the occasion, Energy Secretary K Vijayanand said that the partnership between APGENCO and NHPC would serve as a model for other states, helping to meet both local and national energy requirements sustainably.