Kolkata: NTPC Limited, the largest power generating utility in India, on Wednesday announced the signing of a Memorandum of Understanding (MOU) with Energy Vault Holdings, Inc, a leader in sustainable, grid-scale energy storage solutions.
The objective of the MOU is to collaborate and formalize a long-term strategic partnership for the 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 utilization of coal ash for manufacturing of composite blocks for Energy Vault’s gravity-based energy storage system.
Gurdeep Singh, Chairman and Managing Director of NTPC, said, “As a large, integrated power producer, NTPC must have a diverse clean energy portfolio to decarbonize India’s economy. We have enhanced our renewable capacity addition targets to spearhead India’s energy transition goals and we are focusing on Solar, Wind, RTC and Hybrid projects to achieve the targets.”
“We are excited to partner with NTPC and support India’s largest power utility in its clean energy transition,” said Robert Piconi, Chairman, Co-Founder and CEO, Energy Vault.
