NTPC signs MoU with Energy Vault for gravity-based energy storage technology

NTPC Limited

NTPC Limited inked a Memorandum of Understanding (MoU) with Energy Vault Holdings for deployment of gravity-based energy storage technology and software solutions.

“The MoU will formalise a long-term strategic partnership for deployment of Energy Vault’s EVx™ gravity-based energy storage technology and software solutions based on the outcome of a joint feasibility study,” said the Ministry of Power.

Gurdeep Singh, Chairman and Managing Director, NTPC, said, “NTPC is emphasising on diverse clean energy portfolio to decarbonise India’s economy. With focus on renewable capacity addition, we are targeting on Solar, Wind, RTC and Hybrid projects.”

The collaboration will help to achieve energy transition goals through a sustainable approach by way of utilising coal ash for manufacturing of composite blocks.

Robert Piconi, Chairman, Co-Founder and CEO, Energy Vault, said, “Our mission is to make sustainable, carbon free energy a reality.”

NTPC Renewable Energy (NTPC REL) has also invited online bids for selection of electrolyser technology providers.