NTPC Green Energy (NGEL), a fully-owned subsidiary of NTPC, and Maharashtra State Power Generation Company (MAHAGENCO) have signed a joint venture (JV) agreement to establish renewable energy (RE) parks in Maharashtra. The JV company will focus on developing gigawatt (GW)-scale RE parks and executing projects of similar magnitude gradually. The agreement reflects NTPC’s commitment to green energy objectives and contributes to the government’s energy transition initiatives.
NGEL, established as part of NTPC’s renewable energy portfolio expansion strategy, will oversee the development of renewable energy parks and ventures into areas such as green hydrogen, energy storage technologies, and continuous renewable energy supply. The NTPC Group aims to achieve 60 GW of renewable capacity by 2032. Currently, the group has 3.4 GW of installed RE capacity with over 22 GW in the pipeline.
As reported by Projects Today, NTPC, an integrated power utility boasting a total installed capacity of around 74 GW, including its joint ventures and subsidiaries, is dedicated to supporting both state and national decarbonization objectives. MAHAGENCO, with an installed capacity of approximately 13,170 MW, comprises 9,540 MW thermal, 2,580 MW hydro, 672 MW gas, and 378 MW solar-based power plant capacity.
