NHPC Limited and Andhra Pradesh Power Generation Corporation Limited (APGENCO) have signed a joint venture agreement (JVA) to develop pumped hydro storage (PSP) and renewable energy projects in AndhraPradesh.
The projects will be set up in phases as additional projects will need time for identification and implementation in subsequent phases. Two PSPs, namely Yaganti PSP with a 1,000 MW capacity; and Rajupalem PSP with an 800 MW capacity have been chosen for development in the first phase. NHPC and APGENCO will have equal equity stake in the initial paid-up capital of the JV company.