APGENCO and NHPC join forces to develop solar and 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 to implement major 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 demand of Andhra Pradesh while reducing its carbon footprint.

APGENCO and NHPC officials signed the joint venture in the presence of Chief Minister N. Chandrababu Naidu in Amaravati on Friday.

APGENCO with an installed capacity of 8,800 MW currently meets about 47% of Andhra Pradesh’s energy demand. Under the renewable energy (RE) initiative in 2015, 405 MW of solar power plants were commissioned in the state by March 2019. Over the next five years, APGENCO plans to add an additional 8,560 MW of capacity through various renewable energy initiatives.

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

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

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

The joint venture between APGENCO and NHPC will feature five pumped storage projects with a capacity of 5,070 MW, which are currently at various stages of development and are expected to be commissioned within the next five years.

Prime Minister Nara Chandrababu Naidu expressed his deep commitment to renewable energy and praised the efforts of both APGENCO and NHPC. He noted that this joint venture is a key milestone that will not only secure Andhra Pradesh’s energy future but also contribute significantly to achieving the country’s overall renewable energy goals. He also stressed the need for such green energy initiatives to address the global challenges of climate change and rising pollution levels.

State Energy Minister Gottipati Ravi Kumar has praised the APGENCO-NHPC joint venture as a key milestone in securing Andhra Pradesh’s energy future and contributing to the national renewable energy targets. He stressed the importance of green energy initiatives in the fight against climate change and pollution.

In a speech on the occasion, Energy Secretary K Vijayanand said the partnership between APGENCO and NHPC will serve as a model for other states to help meet both local and national energy requirements in a sustainable manner.