NTPC Green Energy Limited (NGEL) has entered into a Joint Venture Agreement (JVA) with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT). The JV company will be responsible for development of 10 GW of Renewable Energy Parks and Projects in Maharashtra or in various other states of India. NGEL is a wholly owned subsidiary of NTPC.
Recently in September 2024, NGEL and Rajasthan Rajya Vidyut Utpadan Nigam Limited formed a joint venture to fulfil the green hydrogen and renewable energy objectives of NTPC. The JV is expected to develop renewable energy projects of 25 GW and green hydrogen developments and its derivatives of 1 million metric tonne per annum (MMTPA) in Rajasthan.
In the same month, NGEL awarded Suzlon Group with a 1,166 MW wind energy order. Suzlon would supply and install 370 wind turbine generators for two projects of NTPC Renewable Energy Limited and one project of Indian Oil Corporation Limited-NGEL joint venture in Gujarat. Further, NGEL is set to release an initial public offering (IPO) of Rs 100 billion and has filed draft papers for the same.
