NTPC Green Energy Shares in Focus; Partners With Andhra Pradesh for JV

NTPC Green Energy Limited has formed a joint venture, AP NGEL Harit Amrit Ltd, with the Andhra Pradesh government. The 50:50 venture will focus on renewable energy, green hydrogen production, and hydro projects.

New Joint Venture to Drive Renewable Energy Projects

NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, has successfully incorporated a new joint venture company named AP NGEL Harit Amrit Limited, the company said in a press release on the stock exchange.

The new entity is formed as a 50:50 partnership between NTPC Green Energy Limited and the New & Renewable Energy Development Corporation of Andhra Pradesh Limited, a government undertaking of the Andhra Pradesh government.

The primary focus of the new joint venture will be to explore and develop renewable energy projects, including solar, wind, and hybrid energy systems, with or without storage, up to a capacity of 25 GW.

Additionally, the company aims to produce 0.5 MMTPA of green hydrogen and develop green derivatives like green ammonia and green methanol. It will also work on the development of pumped hydro projects with up to a 10 GW capacity in identified locations across the state.

Approval Secured for Renewable Energy JV

The company has received necessary approvals from the Ministry of Power (MOP), Govt. of India, which, through its letter, communicated the concurrence of DIPAM and NITI Aayog regarding the formation of this joint venture.

The incorporation will see NGEL holding a 50% share in the company. As part of the deal, NGEL has subscribed to 50,000 equity shares at a face value of ₹10 each, contributing cash consideration for equity share capital.

This venture marks a significant step in advancing India’s renewable energy and green hydrogen ambitions, reinforcing NTPC’s commitment to sustainable energy solutions.

Share Price Performance

NTPC Green Energy’s share price traded ₹111.89 at 1:00 PM on the NSE, reflecting a slight increase of ₹0.48 (0.43%) from the previous close. The stock opened at ₹111.70, reached a high of ₹112.89, and a low of ₹110.11.

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