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

Tags: Latest National News

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.

Please Rate this article, so that we can improve the quality for you -