NTPC, NGEL Ink MoUs for Renewable Energy Projects in Madhya Pradesh

26 Feb 2025 , 10:56 PM

NTPC Ltd and its subsidiary, NTPC Green Energy Ltd (NGEL), signed multiple MoUs with the Madhya Pradesh government. The agreements were made at the Global Investors Summit in Bhopal on February 24-25, 2025. They focus on developing solar, wind, pumped hydro, and other carbon-neutral power projects in the state. These MoUs are part of energy investment agreements.

NGEL signed an MoU with Madhya Pradesh Power Generating Company Ltd (MPPGCL). The agreement aims to develop renewable energy projects with a capacity of up to 20 GW or more. The investment for these projects is estimated at ₹1,20,000 crore.

The PPP will be established as a Joint Venture Company (JVC) to aid MPPGCL in making sure compliance with its Renewable Generation Obligation (RGO) and also for assisting Madhya Pradesh DISCOM in fulfilling its Renewable Purchase Obligation (RPO).

NTPC also signed a separate MoU with the Madhya Pradesh government for the implementation of sustainable non-fossil fuel-based power projects for an investment of around ₹80,000 crore. This MoU was signed on behalf of state government by Madhya Pradesh Power Management Company Ltd (MPPMCL).

In a related energy storage milestone, NTPC and the Madhya Pradesh government entered into an agreement for an investment of ₹4,000 crore to establish an 800 MW Pumped Hydro Storage Project in the state. These strategic partnerships are in line with India’s renewable energy aspirations and will further establish Madhya Pradesh as a key centre of sustainable power generation.