NHPC and APGENCO establish JV for renewable energy projects
Author: PPD Team Date: January 24, 2025
NHPC Limited and Andhra Pradesh Power Generation Corporation Limited (APGENCO) have formed a joint venture named “APGENCO NHPC Green Energy Limited.”
The company was incorporated on January 23, 2025, with an equal equity participation of 50:50.
The venture focuses on planning, promoting, and executing Pumped Storage Hydro Power Projects and Renewable Energy Projects, including solar, floating solar, and wind projects. Initially, five projects are planned:
- Yaganti Pumped Storage Project (PSP) – 1,000 MW
- Rajupalem PSP – 800 MW
- Gadikota PSP – 1,200 MW
- Aravetipalli PSP – 1,320 MW
- Deenepalli PSP – 750 MW
The projects will involve planning, investigation, design, construction, and operation of power stations, along with selling generated power. Future projects may also be undertaken as agreed upon by the parties.
Approvals for the joint venture were obtained from the Department of Investment and Public Asset Management (DIPAM) on February 15, 2024, NITI Aayog on March 4, 2024, and the Ministry of Power on May 9, 2024.
The company has an authorized share capital of Rs 10 million, with an initial paid-up share capital of Rs 1 million, equally divided between NHPC and APGENCO.