NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC Limited, has joined hands with Maharashtra State Power Generation Company Limited (MAHAGENCO) to establish Renewable Energy Parks in Maharashtra. The Joint Venture Agreement, signed at the NTPC headquarters in New Delhi, outlines plans for the development of GW-scale renewable energy parks, aligning with NTPC’s commitment to green energy objectives and the Government of India’s energy transition efforts.
The agreement, signed on Wednesday, was formalized by Abhay Harne, Director (Projects) of MAHAGENCO, and V V Sivakumar, CGM (NGEL), in the presence of esteemed dignitaries including Gurdeep Singh, CMD of NTPC Limited; Dr. P. Anbalagan, CMD of MAHAGENCO; K S Sundaram, Director (Projects) of NTPC Limited and Chairman (NGEL); Mohit Bhargava, CEO (NGEL); Rajiv Gupta, CEO of NTPC REL, and other senior officials from NGEL and MAHAGENCO.
NTPC, India’s largest integrated power utility with a total installed capacity of approximately 74 GW including JVs and subsidiaries, is bolstering its renewable energy portfolio through NGEL. NGEL, as a fully owned subsidiary, will spearhead Renewable Energy Parks and Projects, including ventures in Green Hydrogen, Energy Storage Technologies, and Round-the-Clock renewable energy initiatives.
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. This collaboration underscores NTPC’s dedication to supporting Maharashtra’s and India’s decarbonization goals, ushering in a sustainable energy future.
MAHAGENCO, with an installed capacity of about 13,170 MW comprising 9,540 MW Thermal, 2,580 MW Hydro, 672 MW Gas, and 378 MW Solar-based Power Plant capacity, brings invaluable expertise to this joint venture, promising a robust and impactful renewable energy development in Maharashtra.
