en.Wedoany.com Reported - India's state-owned hydropower company NHPC Limited has signed a Memorandum of Understanding (MoU) with ONGC Green Limited (OGL) to jointly explore and develop pumped storage projects (PSPs) and other renewable energy projects across the country, a move that will significantly boost India's clean energy transition.

The collaboration aims to integrate the strengths of both parties. NHPC brings decades of experience in large-scale hydropower and engineering projects, while OGL, as the newly established green energy subsidiary of Oil and Natural Gas Corporation (ONGC), possesses strong financial capabilities and is tasked with expanding the deployment of renewable energy sources such as solar and wind. Together, they will identify, assess, develop, and implement large-scale energy storage solutions.

The strategic agreement was signed on June 24, 2026, by NHPC Executive Director (SBD&C) Abhayanand Thakur and ONGC Green Limited CEO Harsh Nupur Joshi, in the presence of senior officials from both central public sector enterprises.

The principle of pumped storage hydropower is akin to a giant water battery. It stores excess solar and wind energy during peak generation periods and releases electricity instantly when demand rises or weather conditions change, making it a critical support facility for India's future power grid.

With India's plan to achieve 500 gigawatts of non-fossil fuel energy installed capacity by 2030, integrating intermittent renewable energy requires substantial energy storage infrastructure. This partnership is expected to significantly enhance the country's energy storage capacity, helping to smooth the integration of green electricity into the grid and accelerating India's progress toward its net-zero emissions target.

This joint venture highlights the accelerating shift of India's traditional energy companies toward sustainable, zero-emission technologies.

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