NHPC entered into a Memorandum of Understanding (MoU) with JSC RusHydro on May 23, Business Standart reported.
The MoU is for "co-operation on case-to-case basis in hydropower projects in India and other countries", the firm said in a regulatory filing. In a separate statement, NHPC noted the agreement is likely to boost its international business opportunities and global presence.
"This MoU is a beginning of cooperation and it will decide areas of mutual interest for benefit of two companies in the field of hydro power development, renewable energy sources and other areas of power generation," it said.
According to Business Standart, the public sector company has an installation base of 5,175 Mw from 13 hydropower stations, including joint venture initiatives. The entity is currently engaged in construction of 11 projects having a total installed capacity of 4,622 Mw, as per its website.
NHPC aims to add over 10,000 Mw of hydropower capacity by by 2017.
JSC RusHydro is Russia's largest power generating company in terms of installed capacity, which is around 26.1 GW, according to the Russian firm's website.
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