State-owned NHPC has announced the formation of a joint venture with Andhra Pradesh Power Generation Corporation Limited (APGENCO) to develop renewable energy projects. The new entity, APGENCO NHPC Green Energy Limited, was incorporated on January 23, 2025, according to a filing with the stock exchange.

The joint venture will see NHPC and APGENCO equally share a 50:50 stake in planning and developing a range of renewable energy projects, including pumped storage hydropower and solar/wind projects.

The initial phase will include five major pumped storage projects: Yaganti (1,000 MW), Rajupalem (800 MW), Gadikota (1,200 MW), Aravetipalli (1,320 MW), and Deenepalli (750 MW). Additional projects will be undertaken as identified and agreed upon in the future, according to the filing.