Team News Riveting
New Delhi, July 20
NHPC Limited has signed a Memorandum of Understanding (MoU) with Damoder Valley Corporation (DVC) to explore formation of Joint Venture (JV) company for setting up hydropower and pump storage projects.
“It is to inform that NHPC Limited has signed a Memorandum of Understanding (MoU) with Damoder Valley Corporation (DVC) on 20.07.2022 to ‘Explore formation of Joint Venture company
(JVC) for exploring and setting up Hydropower and Pump Storage Projects,” NHPC Limited said in a regulatory filing.
The MoU heralds a new dawn in co-operation between the two power sector companies in jointly harness in g the hydropower projects and pump storage projects as energy storage solutions in line with the national objective of Energy Transition i.e 500 GW of renewable energy by 2030 and Net Zero by 2070, the company said, adding that the MoU envisages joint development of mutually identified projects.
NHPC Limited presently has an installation base of 7071.2 MW from 24 power stations including two no’s projects in JV mode. Considering the impediments faced during execution of these projects such as unfavourable geological conditions, difficult law and order problems, inaccessible and remote locations, the achievement so far is commendable.
NHPC is presently engaged in the construction of 11 projects aggregating to a total installed capacity of 7539 MW which includes 2 hydroelectric projects namely 2000 MW Subansiri Lower HEP in Arunachal Pradesh and 800 MW Parbati-II HEP in H.P and 2 solar Projects one of 40 MW in Odisha and 1000 MW under CPSUs scheme, being executed on ownership basis
