NTPC signs MOU with Energy Vault for Gravity based Energy Storage Technology

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NTPC Limited , the largest power generating utility in India, today announced the signing of a Memorandum of Understanding (MOU) with Energy Vault Holdings, Inc. (“Energy Vault), a leader in sustainable, grid-scale energy storage solutions.

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.