Genco, NHPC sign joint venture to boost renewable energy

Vijayawada: In a landmark step towards achieving a greener and more sustainable future, a historic joint venture agreement has been signed between Andhra Pradesh Power Generation Corporation Limited (APGenco) and National Hydroelectric Power Corporation Limited (NHPC) for the implementation of large-scale renewable energy projects in the state.

Energy Minister Gottipati Ravi Kumar, Energy Secretary K Vijayanand, Managing Director of APGencoKVN Chakradhar Babu, JMD of APTranscoKirti Chekuri, CMD of NHPC Raj Kumar Chaudhary, and other directors of Genco and Transco were present.

The joint venture will see the development of 5,070 MW generation capacity 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 NChandrababu Naidu expressed his deep commitment to renewable energy and lauded the efforts of both APGencoand 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.

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.