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Home » News » NTPC Green Energy & MAHAPREIT sign MoU for 10 gw renewable energy projects in Maharashtra

NTPC Green Energy & MAHAPREIT sign MoU for 10 gw renewable energy projects in Maharashtra

May 9, 2024 6:09 pm

NTPC Green Energy & MAHAPREIT sign MoU for 10 gw renewable energy projects in Maharashtra
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The collaboration between NTPC Green Energy & MAHAPREIT is not just a partnership but a significant stride towards boosting green energy objectives, marking a monumental milestone in India’s energy transition.

NTPC Green Energy Limited (NGEL) and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) have signed a Memorandum of Understanding (MoU) at the NTPC Corporate Office in New Delhi. The collaboration aims to advance NTPC’s green energy objectives and the Government of India’s efforts towards energy transition.

The MoU was signed by Rajiv Gupta, CEO of NGEL, and Amol Shinde, Chairman and Managing Director of MAHAPREIT, in the presence of Jaikumar Srinivasan, Director (Finance and HR) of NTPC, and other senior officials from NTPC, NGEL, and MAHAPREIT.

This MoU sets the stage for a significant joint development initiative, envisioning the creation of grid-connected Renewable Energy Parks and Projects, including Solar, Wind, Hybrid, etc, and solutions thereof, up to an impressive 10 gw in Maharashtra.

NTPC, India’s largest power utility, is not just making strides but also making significant leaps in increasing its renewable energy portfolio. A wholly-owned subsidiary, NTPC Green Energy Limited, has been formed to spearhead this effort. NGEL is set to undertake Renewable Energy Parks and Projects, including business in the areas of Green Hydrogen, Energy Storage Technologies, and Round-the-clock RE Power. The NTPC Group has set its sights high, with ambitious plans of reaching 60 gw of RE capacity by 2032, with 3.5 gw of installed RE capacity and 28+ gw under pipeline.

MAHAPREIT is a wholly-owned subsidiary of Mahatma Phule Backward Class Development Corporation (MPBCDC), a state public sector undertaking under the Government of Maharashtra. It was established to generate, trade, operate, lease, and rent renewable power.

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