Mumbai: NTPC Green Energy Ltd (NGEL) and Maharashtra State Power Generation Company Ltd have inked a pact to establish a joint venture company aimed at developing renewable energy parks in Maharashtra.
According to an NTPC statement, the JV company is slated to develop gigawatt-scale renewable energy parks and projects in a phased manner, aligning with NTPC’s green energy objectives and the Government of India’s initiatives for energy transition.
NTPC Green Energy Ltd, a subsidiary of the state-run power major NTPC, has been specifically established to spearhead Renewable Energy Parks and Projects, including ventures in Green Hydrogen, Energy Storage Technologies, and Round-the-Clock RE Power.
The NTPC Group is ambitiously targeting 60 GW of renewable energy capacity by 2032. Presently, it boasts an installed renewable energy capacity of 3.4 GW, with over 22 GW in the pipeline.
The agreement was signed by Abhay Harne, Director (Projects) of MAHAGENCO, and VV Sivakumar, CGM of NGEL. Gurdeep Singh, CMD of NTPC Limited, Dr P Anbalagan, CMD of MAHAGENCO, KS Sundaram, Director (Projects) of NTPC Limited and Chairman (NGEL), Mohit Bhargava, CEO (NGEL), Rajiv Gupta, CEO (NTPC REL), alongside other senior officials from NGEL and MAHAGENCO were also present during the signing.
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