NTPC Green Energy (NGEL) and Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT), has signed a memorandum of understanding (MoU) for development of renewable energy power parks and projects in Maharashtra.
The MoU, signed at NTPC Corporate Office, New Delhi envisages the joint development of grid-connected RE including solar, wind, hybrid and others /or solutions thereof up to 10 GW in the state. This is a move towards realizing the green energy objectives of NTPC and the government's efforts towards energy transition.
The power utility with core business of power generation has a total installed capacity of 76+ GW. To increase its portfolio, a fully-owned subsidiary has been formed as NGEL, which will take up the projects including business in the areas of green hydrogen, energy storage technologies, and round-the-clock RE power. NTPC Group targets 60 GW of RE capacity by the year 2032 and currently it has 3.5 GW of installed RE capacity and 28-plus GW under pipeline.
MAHAPREIT is a wholly-owned subsidiary company of Mahatma Phule Backward Class Development Corporation (MPBCDC), a state PSU, and is engaged in the work of establishing and carrying on the business of generating, trading, operating, leasing and renting renewable power.
