Faridabad, 28 June 2025: NHPC Limited has signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) on 27th June 2025 to collaborate and explore opportunities for the development of Pumped Storage and other Renewable Energy Projects in India and overseas, in a Joint Venture mode.

The MoU was signed by Shri Rajat Gupta, Executive Director (SBD&C), NHPC, and Shri Pravin Dongre, Executive Director (Sustainable Development), IOCL, in the presence of key senior officials from both organisations.

From NHPC, the event was graced by Shri R.K. Chaudhary, Chairman and Managing Director; Shri R.P. Goyal, Director (Finance); Shri Suprakash Adhikari, Director (Technical); Executive Director (SBD&C); and General Manager (SBD&C). Representing IOCL were Shri Suman Kumar, Director (Planning & Business Development) and Shri Manoj Nanda, Chief General Manager (Sustainable Development).

The MoU aims to foster long-term cooperation between NHPC and IOCL, focusing on exploring new opportunities in Pumped Storage, Hydroelectric, and other Renewable Energy projects across domestic and international markets. This collaboration is expected to pave the way for the accelerated expansion of the renewable energy portfolios of both companies.

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