NTPC Limited has signed a memorandum of understanding (MoU) with Energy Vault Holdings, Inc for gravity-based energy storage technology
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.The collaboration with Energy Vault will help NTPC in furthering its energy transition goals through a sustainable approach by way of utilising coal ash for manufacturing of composite blocks. The collaboration will also promote a circular economy.