NHPC Limited signed a Memorandum of Understanding (MoU) with Damodar Valley Corporation (DVC) to explore the formation of a Joint Venture Company (JVC) for exploring and setting up hydropower and pump storage projects, today at NHPC Corporate Office, Faridabad. The MOU was signed in the august presence of Shri A.K. Singh, CMD, NHPC Limited, and Shri Ram Naresh Singh, Chairman, DVC.
The MOU heralds a new dawn in cooperation between the two Power Sector organizations in jointly harnessing 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 MOU envisages the joint development of mutually identified projects.
Shri Y.K. Chaubey, Director (Technical), Shri R.P. Goyal, Director (Finance) and Shri Biswajit Basu, Director (Projects) from NHPC, and Shri Arup Sarkar, Member (Finance), DVC also graced the occasion along with other senior officers from both the organizations