NTPC Green Energy Inks MoU With Mahatma Phule Renewable Energy & Infrastructure Technology

NTPC Green Energy (NGEL), Mahatma Phule Renewable Energy and Infrastructure Technology on Wednesday signed a Memorandum of Understanding (MoU), at NTPC Corporate Office, New Delhi for the development of Renewable Energy Power Parks and Projects. The collaboration aims to realise the green energy objectives of NTPC and the government’s efforts towards energy transition.

The MoU envisages the joint development of grid-connected Renewable Energy Parks and Projects including Solar, Wind, Hybrid etc. and solutions thereof up to 10 GW in the state of Maharashtra. NTPC is India’s largest Power Utility with the core business of power generation having a total installed capacity of 76 plus GW. 

As part of increasing its renewable energy portfolio, a fully owned subsidiary has been formed as “NTPC Green Energy” (NGEL) which shall take up Renewable Energy Parks and Projects including business in the areas of Green Hydrogen, Energy Storage Technologies, and Round the Clock RE Power. NTPC Group has ambitious plans of 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.

Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) is a wholly owned subsidiary company of Mahatma Phule Backward Class Development Corporation (MPBCDC), a State Public Sector Undertaking under the Government of Maharashtra which has been set up with an objective to establish and carry on the business of generating, trading, operating, leasing and renting Renewable Power.

The MoU was signed between Rajiv Gupta, Chief Executive Officer, NGEL and Amol Shinde, Chairman and Managing Director, MAHAPREIT in the presence of Jaikumar Srinivasan, Director (Fin & HR), NTPC and other senior officials from NTPC, NGEL and MAHAPREIT.