(MENAFN- KNN India) Mumbai, May 10 (KNN) In a significant development for India's renewable energy sector, NTPC Green Energy Ltd (NGEL), a subsidiary of NTPC Ltd, has joined hands with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd (MAHAPREIT), a state-backed company under the Government of Maharashtra.
The two entities have signed a Memorandum of Understanding (MoU) to jointly develop grid-connected Renewable Energy Parks and Projects, including solar, wind, and hybrid solutions, with a total capacity of up to 10 gigawatts (GW) in the state of Maharashtra.
The MoU was signed by Rajiv Gupta, CEO, NGEL, and Amol Shinde, Chairman & Managing Director, MAHAPREIT, in the presence of Jaikumar Srinivasan, Director (Finance & Human Resources), NTPC, at the NTPC Corporate Office in New Delhi.
This collaboration aligns with NTPC's ambitious green energy objectives and the Government of India's energy transition efforts.
NTPC, India's largest power producer, is rapidly expanding its renewable energy portfolio through its subsidiary NGEL.
The company has set an ambitious target of achieving 60 GW of renewable energy capacity by 2032, with a current installed renewable energy capacity of 3.5 GW and over 28 GW under development.
NGEL's focus areas include Renewable Energy Parks and Projects, Green Hydrogen, Energy Storage Technologies, and Round-the-clock Renewable Energy Power.
MAHAPREIT, a subsidiary of the Mahatma Phule Backward Class Development Corporation under the Government of Maharashtra, aims to generate, trade, operate, lease, and rent Renewable Power in the state.
This collaboration with NTPC Green Energy Ltd is expected to contribute significantly to Maharashtra's renewable energy goals and accelerate the state's transition towards a greener energy future.
(KNN Bureau)
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