Mumbai: Energy solutions provider Greenko Energies on Tuesday said that it has signed an agreement with NTPC to explore renewable energy supply and renewable energy power supply solutions. The company signed a Memorandum of Understanding with NTPC Vidyut Vyapar Nigam, a wholly-owned subsidiary of NTPC.

The objective of the partnership is to explore the possibility of developing renewable energy sources based on 24-hour, flexible, and distributable renewable energy based on the integration of renewable energy sources and pumped storage projects.

"The value proposition of the potential offering will be to meet the evolving, bespoke requirements of discoms and other power consumers in India in real-time," Greenko said in a statement.

Backed by GIC and Abu Dhabi Investment Authority, Grenco has a total asset base of 6.4 GW, including an operational and near-term portfolio.

Greenko is also developing and building more than 40 GWh of pumped hydroelectric energy storage projects in six states in India. PSK MR

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