New Delhi: NTPC Green Energy Ltd (NGEL) has signed a pact with Maharashtra State Power Generation Company Ltd to set up a joint venture company to develop renewable energy parks in Maharashtra, a statement said on Wednesday.

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The JV agreement has signed between Abhay Harne, Director (Projects), MAHAGENCO and VV Sivakumar, CGM (NGEL) in the presence of Gurdeep Singh, CMD, NTPC Limited, Dr. P Anbalagan, CMD, MAHAGENCO, KS Sundaram, Director (Projects), NTPC Limited and Chairman (NGEL), Mohit Bhargava, CEO (NGEL), Rajiv Gupta, CEO (NTPC REL) along with other senior officials from NGEL and MAHAGENCO.

The JV Company shall develop GW-scale RE park and projects in a phased manner, thereby realizing the green energy objectives of NTPC and the GOI's efforts towards energy transition, an NTPC statement said.

NTPC Green Energy Ltd is a subsidiary of state-run power major NTPC. The fully owned subsidiary has been formed to take up Renewable Energy Parks and Projects including businesses in the area of Green Hydrogen, Energy Storage Technologies, and Round the Clock RE Power.

The NTPC Group has ambitious plans for 60 GW of RE capacity by the year 2032. Currently, it has 3.4 GW of installed renewable energy capacity and more than 22 GW under pipeline.

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