NTPC Signs MoU with Energy Vault for Gravity-based Energy Storage Technology

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NTPC Limited announced the signing of a Memorandum of Understanding (MoU) with Energy Vault Holdings (“Energy Vault). 

• NTPC Limited the largest power generating utility in India.

• The objective of the MoU is to collaborate and formalise a long-term strategic partnership for deployment of Energy Vault’s EVx™ gravity-based energy storage technology and software solutions based on the outcome of a joint feasibility study. 

• The technology also offers beneficial utilisation of coal ash for manufacturing of composite blocks for Energy Vault’s gravity based energy storage system.

• About NTPC

• It is a Central Public Sector Undertaking (PSU) under the Ministry of Power.

• It aims to provide reliable electricity and related solutions in an economical, efficient and eco-friendly manner driven by innovation.

• It became a Maharatna company in May 2010.

• It is located in New Delhi.

• It is India's largest power utility company with an installed capacity of 63925 MW (including JVs)plans to become a 130 GW company by 2032.

• It was incorporated on November 7, 1975 under the Companies Act.