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Central Government/Public Sector | Multi State - India | PID: 202882
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NTPC Green Energy (NGEL) and Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT), signed a memorandum of understanding (MoU) on 08 May, 2024 for development of renewable energy power parks and projects in Maharashtra.
The MoU, signed at NTPC Corporate Office, New Delhi envisages the joint development of grid-connected RE including solar, wind, hybrid and others /or solutions thereof up to 10 GW in the state. This isa move towards realising the green energy objectives of NTPC and the government's efforts towards energy transition,
The power utility with core business of power generation has a total installed capacity of 76+ GW. To increase its portfolio, a fully-owned subsidiary has been formed as NGEL, which will take up the projects including business in the areas of green hydrogen, energy storage technologies, and round-the-clock RE power. NTPC Group targets 60 GW of RE capacity by the year 2032 and currently it has 3.5 GW of installed RE capacity and 28-plus GW under pipeline.
MAHAPREIT is a wholly-owned subsidiary company of Mahatma Phule Backward Class Development Corporation (MPBCDC), a state PSU, and is engaged in the work of establishing and carrying on the business of generating, trading, operating, leasing and renting renewable power.
| Updated on: 15 - May - 2024
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