"NTPC Green Energy Ltd Partners with MAHAGENCO for Renewable Energy Parks in Maharashtra"

NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, has inked a Joint Venture Agreement with Maharashtra State Power Generation Company Limited (MAHAGENCO) to spearhead the development of Renewable Energy Parks across Maharashtra. The collaboration aims to establish gigawatt-scale renewable energy parks and execute projects of similar magnitude in a phased manner. This strategic move not only aligns with NTPC's green energy objectives but also supports the Indian government's initiatives for a seamless transition towards sustainable energy sources.

The Joint Venture Agreement was formalized at NTPC's headquarters in New Delhi on February 28, 2024. The signing ceremony witnessed the participation of key stakeholders including Shri Gurdeep Singh, CMD of NTPC Limited; Dr. P. Anbalagan, CMD of MAHAGENCO; Shri K S Sundaram, Director (Projects) of NTPC Limited and Chairman of NGEL; Shri Mohit Bhargava, CEO of NGEL; Shri Rajiv Gupta, CEO of NTPC REL, along with other senior officials from NGEL and MAHAGENCO.

NTPC, as India's largest integrated power utility, boasts a total installed capacity of approximately 74 GW, inclusive of joint ventures and subsidiaries. To bolster its renewable energy portfolio, NTPC formed NGEL, a fully-owned subsidiary dedicated to Renewable Energy Parks and Projects. NGEL will also venture into domains such as Green Hydrogen, Energy Storage Technologies, and Round-the-Clock renewable energy.

With an ambitious target of achieving 60 GW of renewable energy capacity by 2032, the NTPC Group currently operates 3.4 GW of installed RE capacity, with over 22 GW under pipeline. The collaboration with MAHAGENCO is poised to accelerate Maharashtra's and India's decarbonization objectives.

MAHAGENCO, boasting an installed capacity of around 13,170 MW, comprises Thermal, Hydro, Gas, and Solar-based Power Plants, further enriching the collaborative effort towards sustainable energy development.

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