NTPC and UPRVUNL form joint venture for Uttar Pradesh renewable energy development

The partnership aims to meet green energy goals, fulfilling Renewable Generation Obligations, and fostering sustainable solutions.

To advance the green energy goals set by the National Thermal Power Corporation (NTPC) and align with the Government of India’s (GOI) initiatives for energy transition, NTPC Green Energy Limited (NGEL), a fully owned subsidiary of NTPC Limited, formalised a Joint Venture Agreement with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) on March 4, 2024. The signing ceremony took place at UPRVUNL’s office in Lucknow.

The Joint Venture Agreement was endorsed by S K Dutta, Director (Projects & Commercial) of UPRVUNL, and V V Sivakumar, Chief General Manager (CGM) of NGEL, in the esteemed presence of key dignitaries including P Guruprasad, IAS, Principal Secretary (Revenue) of the Government of Uttar Pradesh (GoUP), Ranvir Prasad, IAS, Managing Director of UPRVUNL, N S Rao, Regional Executive Director of NTPC, and other high-ranking officials from NTPC, NGEL, and UPRVUNL.

The primary objective of this collaborative initiative is the development of Renewable Energy (RE) Parks and Projects within the state of Uttar Pradesh. This strategic partnership underscores the commitment of both entities to contribute significantly to the green energy landscape and further the nation’s objectives in sustainable power generation.

One of the key provisions of the Joint Venture is the generation of RE power, which is slated to fulfill the Renewable Generation Obligation (RGO) of UPRVUNL. By leveraging the combined expertise and resources of NGEL and UPRVUNL, the Joint Venture aims to harness the potential of renewable sources to meet the energy demands of Uttar Pradesh while adhering to environmentally conscious practices.

The signing ceremony marked a significant milestone in the collaboration between these entities, setting the stage for impactful developments in the renewable energy sector. With the support and involvement of notable officials from both NTPC and UPRVUNL, this joint effort underscores a collective commitment to fostering sustainable energy solutions and aligning with the larger vision of a cleaner and greener future for the nation.

The Joint Venture Agreement between NGEL and UPRVUNL signifies a crucial step towards realising the green energy objectives outlined by NTPC and the GOI. The collaborative efforts are poised to contribute substantially to Uttar Pradesh’s renewable energy landscape, fulfilling not only the energy transition goals but also ensuring compliance with the Renewable Generation Obligation set by UPRVUNL.