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NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC Limited, has signed a Joint venture Agreement with Maharashtra State Power Generation Company Limited (MAHAGENCO), to develop Renewable Energy Parks in Maharashtra.
The company to be set up under the joint venture will develop GigaWatt (GW)-scale renewable energy parks and undertake projects of this scale in a phased manner. The agreement aligns with the green energy objectives of NTPC and is another step in the Government of India’s efforts towards energy transition.
The Joint Venture Agreement was signed at NTPC headquarters in New Delhi today by Director (Projects), MAHAGENCO, Abhay Harne and CGM (NGEL), V V Sivakumar in the presence of senior officials from NGEL and MAHAGENCO.
NTPC Group has ambitious plans to attain 60 GW of renewable energy capacity by 2032. Currently, it has 3.4 GW of installed Renewable Energy capacity and more than 22 GW is in pipeline. NTPC is committed to supporting Maharashtra’s and India’s decarbonisation goals.
MAHAGENCO has an installed capacity of about 13,170 MW, including 9,540 MW Thermal, 2,580 MW Hydro, 672 MW Gas and 378 MW Solar-based Power Plant capacity.
