NTPC Green Energy and MAHAGENCO partner for development of Renewable Energy Parks in Maharashtra

New Delhi: NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC Limited, has signed a joint venture agreement with Maharashtra State Power Generation Corporation Limited (MAHAGENCO) for the development of renewable energy parks in the state of Maharashtra, according to an official statement.

The company to be set up under the joint venture will develop GW-scale renewable energy parks and undertake projects of this scale in a phased manner. The agreement aligns with the NTPC's green energy objectives and is another step in the Government of India's efforts towards energy transition, the statement said.

The joint venture agreement was signed at NTPC Headquarters in New Delhi on 28 February 2024 by Director (Projects), MHAGENCO, Abhay Harne, and CGM (NGEL), VV Sivakumar, in the presence of CMD, NTPC Limited, Gurdeep Singh; CMD, Mahajinko, P Anbalagan; Director (Projects), NTPC Limited and Chairman (NGEL), KS Sundaram; CEO (NGEL), Mohit Bhargava; and NTPC REL CEO Rajeev Gupta along with other senior officials of NGEL and MAHAGENCO.

NTPC is India's largest integrated power company, with a total installed capacity, including joint ventures and subsidiaries, of approximately 74 GW. As part of the strengthening of its renewable energy portfolio, a wholly-owned subsidiary “NTPC Green Energy Limited” (NGEL) has been established, which will take charge of renewable energy parks and projects, including businesses in the areas of green hydrogen,  energy storage technologies, and round-the-clock renewable energy.

NTPC Group has ambitious plans to attain 60 GW of renewable energy capacity by 2032. Currently, it has 3.4 GW of renewable energy capacity installed and more than 22 GW in the pipeline. NTPC is committed to supporting Maharashtra's and India's decarbonization goals.

MAHAGENCO has an installed capacity of approximately 13,170 MW, including 9,540 MW of thermal, 2,580 MW Hydro, 672 MW of gas, and 378 MW of solar-based power plant capacity.

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