According to an official statement, state-owned NHPC has inked an initial pact with the Andhra Pradesh Power Generation Corporation to set up pumped storage hydropower and other renewable energy projects in Andhra Pradesh. In the first phase, the Memorandum of Understanding (MoU) envisages building of two pumped hydro storage projects having a total capacity of 1,950 MW.
These projects are going to be established at Kamalapadu (950 MW) and Yaganti (1,000 MW).
Once it’s done, these projects are anticipated to create significant employment opportunities and increase the local economy. As a joint venture, the projects are going to be implemented.
According to a statement, NHPC has signed the MoU with Andhra Pradesh Power Generation Corporation (APGENCO) to implement the pumped hydro storage projects and renewable energy projects in Andhra Pradesh,.
On Wednesday, at Tadepalli in Andhra Pradesh’s Guntur, the MoU was signed in the presence of Chief Minister Y S Jagan Mohan Reddy. NHPC Director (Finance) R P Goyal and APGENCO Managing Director K V N Chakradhar Babu signed the agreement.
The MoU aims to achieve the national objective of generating clean and green energy of 500 GW by 2030 from non-fossil fuel sources and of realising the net-zero target by 2070.
The pumped storage system uses surplus grid power available from thermal power stations or other sources for pumping up water from lower to upper reservoir and then it produces electricity during peak demand.