NTPC Green Energy (NGEL), a wholly-owned subsidiary of NTPC, and Maharashtra State Power Generation Company (MAHAGENCO) have inked a joint venture (JV) agreement for setting up renewable energy (RE) parks in Maharashtra.
The company to be set up under the JV will develop GW-scale RE parks and undertake projects of this scale in a phased manner. The agreement aligns with the green energy objectives of NTPC and is another step in the government's efforts towards energy transition.
As part of its strategy to expand RE portfolio, NGEL has been formed which will take up renewable energy parks and projects, including businesses in green hydrogen, energy storage technologies, and round-the-clock renewable energy. NTPC Group has plans to attain 60 GW of renewable capacity by 2032. Presently, the Group has 3.4 GW of installed RE capacity and over 22 GW under pipeline.
NTPC, a leading integrated power utility with a total installed capacity, including JVs and subsidiaries, of approximately 74 GW, is committed to supporting the state's and nation's decarbonization goals. MAHAGENCO has an installed capacity of about 13,170 MW, including 9,540 MW thermal, 2,580 MW hydro, 672 MW Gas and 378 MW solar-based power plant capacity.
