NTPC Green Energy Limited (NGEL) partners with Maharashtra State Power Generation Company Limited (MAHAGENCO) to develop Renewable Energy Parks in Maharashtra. The agreement underscores commitment to green energy initiatives and supports India’s energy transition goals.
Key Highlights of the Agreement
- Scope of the Joint Venture: Establishment of a company to develop GW-scale renewable energy parks in Maharashtra.
- Signing Ceremony: Formalized at NTPC headquarters, New Delhi, on February 28, 2024, in the presence of eminent dignitaries.
NTPC’s Renewable Energy Endeavors
- Formation of NGEL: Fully owned subsidiary dedicated to Renewable Energy Parks and Projects, including Green Hydrogen, Energy Storage Technologies, and Round-the-Clock renewable energy solutions.
- Ambitious Renewable Energy Targets: Aim to achieve 60 GW of renewable energy capacity by 2032, with substantial installed capacity and projects in the pipeline.
MAHAGENCO’s Contribution
- Installed Capacity: MAHAGENCO boasts an installed capacity of approximately 13,170 MW, covering Thermal, Hydro, Gas, and Solar-based Power Plants.
Pioneering Sustainable Energy in Maharashtra
- Collaboration between NGEL and MAHAGENCO marks a significant step towards sustainable energy development in Maharashtra.
- Partnership expected to catalyze growth of renewable energy infrastructure, supporting India’s energy transition agenda.
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