NHPC Limited has signed a memorandum of understanding with Ocean Sun, a Norwegian company operating as a technology provider to the floating solar industry, the Ministry of Power said on Tuesday.
[Representational Photo : iStock]
NHPC Limited has signed a memorandum of understanding with Ocean Sun, a Norwegian company operating as a technology provider to the floating solar industry, the Ministry of Power said on Tuesday.
According to the MoU, NHPC Limited, the largest organization for hydropower development in India, and Ocean Sun will explore key areas of cooperation for demonstration of Ocean Sun’s floating solar energy technology based on photovoltaic panels.
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The panels would be mounted on hydro-elastic membranes at relevant sites to be identified by NHPC.
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The agreement is in continuation of efforts towards sustainable development and addition of renewable energy capacity by NHPC, which is engaged not only in hydro power development but also in various renewable energy projects such as solar, wind and green hydrogen projects, the ministry said in a statement.
The MoU was signed in hybrid mode by Executive Director (Renewable Energy and Green Hydrogen), NHPC, V.R. Shrivastava and CEO, Ocean Sun, Kristian Tørvold.
Ambassador of Norway to India, May-Elin Stener; Director (Technical), NHPC, Raj Kumar Chaudhary and Executive Director (Strategy Business Development & Consultancy), NHPC, Rajat Gupta joined the signing ceremony from Embassy of Norway, New Delhi and Ambassador of India to Norway, Dr. Acquino Vimal joined from Oslo.
Shares of NHPC traded with gains for the seventh day in a row. The stock had made a record high of ₹115.85 on February 29 this year.
So far this year, the stock is up 43%. Shares had gained 40% in the month of January itself but have been relatively flat post that. The stock fell 3% in February, gained 2% in March and is up 5.7% so far in April.
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