NHPC forms JV with power producer APGENCO for renewable energy projects

State-owned NHPC on Thursday said it has formed a joint venture with Andhra Pradesh Power Generation Corporation Limited (APGENCO) to develop renewable energy projects. The new entity APGENCO NHPC Green Energy Limited has been incorporated on Janauary 23, NHPC said in an exchange filing.

NHPC and APGENCO have 50:50 equity participation in the JV formed to plan, promote and organise an integrated and efficient development of pumped storage hydro power projects and renewable energy (solar/floating solar/wind) projects.

Initially five projects, namely Yaganti PSP (1000MW), Rajupalem PSP (800 MW), Gadikota PSP (1200 MW), Aravetipalli PSP (1320 MW), and Deenepalli PSP (750 MW), are considered for joint implementation and other projects subsequently identified shall be taken up as mutually agreed in future, the filing said.