NTPC Subsidiary Signs Major Joint Venture for 10 GW Renewable Energy Projects

On September 25, 2024, NTPC Ltd informed the exchanges that the company’s wholly-owned subsidiary, NTPC Green Energy Limited (NGEL), signed a Joint Venture Agreement (JVA) with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd (MAHAPREIT). 

The JVA was formalised in Mumbai, where Shri Rajiv Gupta, CEO of NGEL, and Shri Bipin Shrimali, MD of MAHAPREIT, signed the agreement in the presence of senior officials from both organizations. This joint venture aims to develop 10 GW of renewable energy parks and projects across Maharashtra and potentially other Indian states, marking a significant step in expanding renewable energy infrastructure in the country.

In addition to this venture, NTPC announced in September 2024 that its Board of Directors approved two major investment projects. The first is the Darlipali Super Thermal Power Project, Stage-II (1×800 MW), for which the Board granted an investment approval of ₹11,130.98 crore. This project is expected to enhance NTPC’s capacity in the thermal power sector while contributing to the company’s diverse energy mix.

The second project approved by NTPC’s Board is the Sipat Super Thermal Power Project, Stage-III (1×800 MW), with an estimated cost of ₹9,790.87 crore. Both projects align with NTPC’s long-term strategy of expanding its power generation capacity and meeting the growing energy demands of India.

These developments reflect NTPC’s continued commitment to both traditional and renewable energy. The joint venture with MAHAPREIT underscores NTPC’s focus on accelerating its renewable energy initiatives, while the thermal power project approvals demonstrate its intent to maintain a balanced energy portfolio. As India moves toward sustainable growth, NTPC’s initiatives will be pivotal in supporting the nation’s energy transition goals.

About NTPC Ltd

NTPC (National Thermal Power Corporation) Ltd along with its subsidiaries/ associates and JVs is mainly involved in the generation and sale of bulk power to state power utilities. The group is also involved in other businesses, such as consultancy, project management and supervision, energy trading, oil and gas exploration and coal mining.

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