- 28 Apr 2022
- ICICIdirect Research
NTPC SIGNS MOU WITH ENERGY VAULT HOLDINGS
NTPC - 335 Change: -0.65 (-0.19 %)News: India's largest power utility NTPC, on Wednesday announced signing 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 formalise a long-term strategic partnership for deployment of Energy Vault’s EVx™, a 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
Views: As NTPC is one of the largest power utility in India it must have a diverse clean energy portfolio to de-carbonise India’s economy. NTPC has enhanced its renewable capacity addition targets to spearhead India’s energy transition goals and is focusing on solar, wind, RTC and hybrid projects to achieve the targets. 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
Impact: Positive