New Delhi: State-owned NTPC Green Energy Limited (NGEL) and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) joined hands on Wednesday by signing a Memorandum of Understanding (MoU) in Lucknow. The partnership aims to collaborate in the development of Renewable Energy Parks and Projects, contributing to the government's efforts towards energy transition. The MoU signing ceremony witnessed the presence of key officials including P Guruprasad, MD (UPRVUNL), Praveen Saxena, Regional Executive Director (NR) of NTPC, Mohit Bhargava, CEO (NGEL), Nidhi Kumar Narang, Director (Finance), UPRVUNL, V V Sivakumar, GM (NGEL), and other senior representatives from NTPC, NGEL, and UPRVUNL.
The MoU outlines the collaboration between NGEL and UPRVUNL, which includes the establishment of floating and ground-mounted solar projects in the Rihand reservoir, other water bodies, and available vacant land. It also entails the development of a solar PV project dedicated to solarizing Ayodhya city, as well as the creation of Renewable Energy Parks and Projects wherever land is made available. NGEL and UPRVUNL will work together to form a Joint Venture Company (JVC) to meet Renewable Generation Obligations and enable flexibility in generation and scheduling of Thermal/Hydro Power Stations through bundling with Renewable Energy and Energy Storage.
NTPC, India's largest power utility with a total installed capacity of around 72 GW (including JVs and subsidiaries), has established a fully owned subsidiary called "NTPC Green Energy Limited" (NGEL) to expand its renewable energy portfolio. NGEL will focus on Renewable Energy Parks and Projects, including advancements in Green Hydrogen, Energy Storage Technologies, and Round the Clock Renewable Energy Power.
UPRVUNL was established to develop and operate power-generating stations in Uttar Pradesh. Currently, UPRVUNL operates four Thermal Power Stations within the state, with an installed capacity of 5,820 MW, and one Thermal Power Station with an installed capacity of 1,320 MW under a joint venture with NTPC. UPRVUNL is in the process of adding an additional 3,300 MW capacity using supercritical technology independently, along with 1,980 MW in a joint venture with CPSEs. The organisation is also actively diversifying into the Renewable Energy and Energy Storage sectors.
(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.)