Maharashtra : NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC Limited, has forged a Joint Venture Agreement with Maharashtra State Power Generation Company Limited (MAHAGENCO) for the development of Renewable Energy Parks in Maharashtra. The envisioned company resulting from this collaboration will focus on establishing gigawatt-scale renewable energy parks and executing projects of such magnitude in a phased manner. This agreement reflects NTPC’s commitment to green energy objectives and contributes to the Government of India’s endeavors toward energy transition.
The Joint Venture Agreement was formalized at NTPC headquarters in New Delhi on February 28, 2024, witnessed by senior officials from both organizations. NTPC, being India’s largest integrated power utility with a total installed capacity of around 74 GW, including joint ventures and subsidiaries, aspires to expand its renewable energy portfolio through NGEL, a subsidiary dedicated to Renewable Energy Parks and Projects, including ventures in Green Hydrogen, Energy Storage Technologies, and continuous renewable energy supply.
With ambitious plans to achieve 60 GW of renewable energy capacity by 2032, NTPC currently boasts 3.4 GW of installed renewable energy capacity, with over 22 GW in the pipeline. The company remains steadfast in its support for Maharashtra and India’s decarbonization goals.
MAHAGENCO, with an installed capacity of approximately 13,170 MW, encompassing thermal, hydro, gas, and solar-based power plants, joins hands with NTPC in this endeavor.