Mumbai, August 13, 2023: North Eastern Electric Power Corporation Limited (NEEPCO), a 100% subsidiary of NTPC, took a significant step towards sustainable energy development by signing a Memorandum of Agreement (MoA) with the Government of Arunachal Pradesh. The ceremony took place here in Itanagar, solidifying their joint commitment to the development of 2620 MW hydroelectric projects.
These hydro projects are poised to play a pivotal role in advancing India’s green energy objectives, aligned with the Nationally Determined Contribution (NDC) target. The NDC target aims to achieve an impressive 500 GW of non-fossil energy capacity by 2030. The hydro projects’ contribution will be crucial in reducing the nation’s carbon footprint and accelerating the journey towards achieving Net Zero carbon emissions by 2070.
In addition to their environmental benefits, these hydro projects hold great promise for the region’s economic growth. The projects are expected to generate substantial employment opportunities, providing a boost to the local economy and fostering skill development and technical expertise among the local population.
With this MoA in place, NEEPCO and the Government of Arunachal Pradesh are set to collaborate on a venture that not only harnesses the immense potential of hydroelectric power but also paves the way for a cleaner, greener, and more sustainable energy future for India.