NTPC Green Energy, MAHAPREIT Set Up JV for Mega Renewable Projects

8 Apr 2025 , 07:45 PM

NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, has signed a joint venture agreement with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) to facilitate the establishment of renewable energy infrastructure throughout the country.

The new company, NTPC-MAHAPREIT Green Energy Limited, will also sign Power Purchase Agreements (PPA) with NTPC and ensure the development, operation and maintenance of country-wide large-scale renewable energy parks.

Incorporated as on April 8, 2025, the joint venture has a 74% stake owned by NGEL and 26% owned by MAHAPREIT. As part of the agreement, NGEL has subscribed to 74,000 equity shares at a face value of ₹10 per share, reinforcing its strong commitment to green energy initiatives.

Under this collaboration, the focus shall be on the creation of Ultra Mega Renewable Energy Power Parks (UMREPPs) with solar, wind, and hybrid project projects (including storage-based systems), with a premeditated capability of up to 10 gigawatts (GW). The focus of project implementation will first be in Maharashtra; however, the joint venture could look at other states in India as well.

NITI Aayog and the department of investment and public asset management (DIPAM) also granted the clearances for incorporation of the new entity, which was approved by the ministry of power. This strategic partnership betides with NTPC’s long-term plan for growth of its clean energy portfolio and augmenting India’s endeavour towards sustainable & green energy future.