It is learnt that State-owned NHPC has formed a joint venture with Andhra Pradesh Power Generation Corporation Limited (APGENCO) to develop renewable energy projects. The new entity APGENCO NHPC Green Energy Limited has been incorporated on January 23. NHPC and APGENCO have 50:50 equity participation in the JV formed to plan, promote and organise an integrated and efficient development of pumped storage hydro power projects and renewable energy.