NGEL forms JV with MAHAGENCO for RE parks in Maharashtra

NTPC Green Energy Ltd (NGEL), a wholly owned subsidiary of NTPC, signed a Joint Venture (JV) agreement with Maharashtra State Power Generation Company Limited (MAHAGENCO) for development of renewable energy parks in Maharashtra. The JV company shall develop GW-scale RE park and projects in a phased manner, thereby realizing the green energy objectives of NTPC and the GOI’s efforts towards energy transition.

The JV agreement was signed between Abhay Harne, Director (Projects), MAHAGENCO and V V Sivakumar, CGM (NGEL) in the presence of Gurdeep Singh, CMD, NTPC, Dr. P Anbalagan, CMD, MAHAGENCO, K S Sundaram, Director (Projects), NTPC and Chairman (NGEL), Mohit Bhargava, CEO (NGEL), Rajiv Gupta, CEO (NTPC REL) along with other senior officials from NGEL and MAHAGENCO.

NTPC is India’s largest integrated power utility with a total installed capacity of approx. 74 GW (including JVs and subsidiaries). As part of increasing its renewable energy portfolio, a fully owned subsidiary has been formed as NTPC Green Energy Limited (NGEL) which shall take up renewable energy parks and projects including businesses in the area of green hydrogen, energy storage technologies, and round the clock RE power.

NTPC Group has ambitious plans of 60 GW of RE capacity by the year 2032. Currently, it has 3.4 GW of installed RE capacity and more than 22 GW under 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.