(Credit: Pixabay)Energy Vault Holdings, an energy storage solutions company, has announced the signing of a Memorandum of Understanding (MOU) with NTPC Limited, the largest power generating utility in India.
The objective of the MOU is to collaborate and formalize 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. The technology also offers beneficial utilization of coal ash for manufacturing of composite blocks for Energy Vault’s gravity-based energy storage system.
NTPC said they are entering into the agreement to help decarbonize India’s economy. NPTC has enhanced its renewable capacity addition targets to spearhead the country’s energy transition goals and is focusing on solar, wind, RTC and hybrid projects to achieve targets.
