(MENAFN- Adfactors PR) Bengaluru, 8th May 2024: NTPC Green Energy Limited (NGEL) and Mahatma Phule Renewable Energy and Infrastructure Technology Limited today signed a Memorandum of Understanding (MoU), at NTPC Corporate Office, New Delhi for development of Renewable Energy Power Parks and Projects. The collaboration aims to realize the green energy objectives of NTPC and the GOI’s efforts towards energy transition.
The MoU was signed between Shri Rajiv Gupta, Chief Executive Officer, NGEL and Shri Amol Shinde, Chairman and Managing Director, MAHAPREIT in the presence of Shri Jaikumar Srinivasan, Director (Fin & HR), NTPC and other senior officials from NTPC, NGEL and MAHAPREIT.
The MoU envisages the joint development of grid connected Renewable Energy Park and Projects including Solar, Wind, Hybrid etc. and/or solutions thereof up to 10 GW in the state of Maharashtra.
NTPC is India’s largest Power Utility with core business of power generation having a total installed capacity of 76+ GW. As part of increasing its renewable energy portfolio, a fully owned subsidiary has been formed as “NTPC Green Energy Limited” (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+ GW under pipeline.
Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) is a wholly owned Subsidiary Company of Mahatma Phule Backward Class Development Corporation (MPBCDC), a State Public Sector Undertaking under Government of Maharashtra which has been setup with an objective to establish and carry on business of generating, trading, operating, leasing and renting Renewable Power.
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