NTPC Green Energy inks MoU with MAHAPREIT for development of RE power parks & projects 
News Updates

NTPC Green Energy inks MoU with MAHAPREIT for development of RE power parks & projects

The collaboration between NTPC Green Energy and MAHAPREIT aims to realize the green energy objectives of NTPC and the Government’s efforts towards energy transition

PSU Watch Bureau

New Delhi: NTPC Green Energy Limited (NGEL) and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) on Wednesday signed a memorandum of understanding (MoU), at NTPC Corporate Office, New Delhi for the development of renewable energy power parks and projects.

The collaboration aims to realize the green energy objectives of NTPC and the Government’s efforts towards energy transition.

PSU Watch is now on Whatsapp Channels. Click here to join

The MoU has been signed between NGEL's Chief Executive Officer Rajiv Gupta and MahaPreit's Chairman and Managing Director (CMD) Amol Shinde in the presence of NTPC's Director (Finance & HR) Jaikumar Srinivasan 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.

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 the objective to establish and carry on business of generating, trading, operating, leasing and renting Renewable Power.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

GRSE signs MoU with Germany’s Reintjes GmbH to enhance marine propulsion capabilities

RITES, iSky Transport sign MoU to explore sustainable urban mobility solutions

Finance Ministry working on strategy to insulate economy from geo political shocks: DIPAM Secy

NSDL's Rs 4,011 crore IPO subscribed 41 times on final day of offer

India Post Payments Bank starts Aadhaar-based face authentication for digital banking