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NTPC Inks MoUs with MP to Invest Rs 2 lakh-cr in RE Projects

NTPC and its subsidiary, NTPC Green Energy (NGEL), have signed multiple MoUs with the Madhya Pradesh government to invest over Rs two lakh crore in renewable energy projects. These projects, including solar, wind, pumped hydro storage, and other carbon-neutral initiatives, align with India's energy transition and Net Zero targets.

A key MoU between NGEL and Madhya Pradesh Power Generating Company (MPPGCL) outlines the development of up to 20 GW of renewable energy, requiring an estimated Rs 1,20,000 crore investment. Another agreement, worth Rs 80,000 crore, was signed with Madhya Pradesh Power Management Company (MPPMCL) for additional non-fossil fuel power plants. Additionally, an 800 MW pumped hydro storage project, requiring Rs 4,000 crore, is planned.

These MoUs, signed in the presence of Chief Minister Mohan Yadav during the Global Investors Summit, will aid in fulfilling Madhya Pradesh's Renewable Generation Obligation (RGO) and Renewable Purchase Obligation (RPO). The company remains committed to achieving 60 GW of renewable capacity by 2032.

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