NTPC, MAHAGENCO sign deal for renewable energy parks in Maharashtra

NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC Limited, has inked a joint venture (JV) agreement with Maharashtra State Power Generation Company Limited (MAHAGENCO) to develop renewable energy parks in Maharashtra.

The joint venture will spearhead the development of gigawatt (GW) scale renewable energy parks and execute projects of such magnitude in a phased manner.

The JV agreement was formally signed on February 28, 2024, at the NTPC headquarters in New Delhi.

NTPC, India's largest integrated power utility, aims to bolster its renewable energy portfolio through NGEL, dedicated to Renewable Energy Parks and Projects, including ventures in Green Hydrogen, Energy Storage Technologies, and Round-the-Clock renewable energy solutions.

MAHAGENCO, with an installed capacity of approximately 13,170 MW encompassing thermal, hydro, gas, and solar-based power plants, stands poised to contribute significantly to the collaborative effort in advancing renewable energy initiatives in the region.