NHPC inks MoU with Maharashtra Government

Tags: National Economy/Finance National News

State-owned NHPC Limited has announced its collaboration with the Department of Energy, Maharashtra government through a Memorandum of Understanding (MoU) on 7 June. 

An overview of the news

• The primary objective of this partnership is to establish Energy Storage Systems, specifically Pumped Storage Systems, alongside other Renewable Energy Sources like Solar, Wind, and Hybrid, with a total combined capacity of 7,350 MW.

• The introduction of energy storage systems, such as Pumped Storage Systems, is crucial for storing excess energy during periods of low demand and utilizing it during peak hours. 

• These systems play a vital role in ensuring a reliable and uninterrupted power supply. 

• They contribute to grid stability, enable efficient energy management, and facilitate the integration of intermittent renewable energy sources into the power grid.

• By combining pumped storage systems with solar, wind, and hybrid power generation, this collaboration aims to optimize the utilization of renewable energy resources. 

NHPC Limited

• NHPC Limited, formerly known as the National Hydroelectric Power Corporation, is a state-owned company in India.

• It was incorporated in 1975.

• Its objective is developing, operating, and maintaining hydroelectric power projects in India.

• It is a government-owned company, with the majority of shares held by the Government of India. 

• It operates under the administrative control of the Ministry of Power.

• Some of its major projects include the Indira Sagar Project in Madhya Pradesh, the Teesta Low Dam Project in West Bengal, and the Parbati Hydroelectric Project in Himachal Pradesh.