In a significant development for India’s renewable energy sector, state-owned NHPC has partnered with Andhra Pradesh Power Generation Corporation Limited (APGENCO) to form a joint venture aimed at developing renewable energy projects. The new entity, APGENCO NHPC Green Energy Limited, was officially incorporated on January 23, 2025, according to an exchange filing by NHPC.
Details of the Joint Venture
The joint venture represents an equal partnership, with NHPC and APGENCO holding a 50:50 equity stake. The partnership will focus on the integrated and efficient development of pumped storage hydro power projects and renewable energy projects, including solar, floating solar, and wind energy.
Initial Projects Under the Joint Venture
The JV has identified five key pumped storage hydro power projects for initial development, with a combined capacity of 5,070 MW:
- Yaganti PSP – 1,000 MW
- Rajupalem PSP – 800 MW
- Gadikota PSP – 1,200 MW
- Aravetipalli PSP – 1,320 MW
- Deenepalli PSP – 750 MW
Future projects will be identified and executed as per mutual agreement, paving the way for further growth in India’s renewable energy landscape.
Significance of the Collaboration
The formation of APGENCO NHPC Green Energy Limited marks a critical step in advancing India’s renewable energy goals. The joint venture aims to:
- Promote Sustainable Energy: Focus on clean energy solutions like solar, wind, and pumped hydro storage to meet India’s growing energy demands sustainably.
- Enhance Grid Stability: Leverage pumped storage hydro projects to provide reliable and efficient energy storage solutions.
- Drive Regional Development: Boost Andhra Pradesh’s renewable energy capacity and position the state as a key player in India’s green energy transition.
India’s Renewable Energy Ambitions
This collaboration aligns with India’s ambitious target to achieve 500 GW of non-fossil fuel capacity by 2030. Pumped storage projects are considered critical for balancing the grid as renewable energy sources like solar and wind are intermittent in nature.
