MAHAPREIT and NTPC Sign RE Projects Worth 10 GW

MAHAPREIT and NTPC Sign Projects Worth 10 GW

NTPC Green Energy Ltd (NGEL) is a wholly owned subsidiary of NTPC Ltd, under which a joint venture agreement was signed with Mahatma Phule Renewable Energy and Infrastructure Technology, MAHAPREIT. Together, the two firms are set to develop 10 GW of renewable energy parks and projects in the state of Maharashtra or other states in India. MAHAPREIT is a wholly Subsidiary Company of Mahatma Phule Backward Class Development Corporation (MPBCDC), Government of Maharashtra State PSU.

This new partnership will focus on the development of solar energy. Maharashtra has a major initiative on Green energy corridors in the works, besides targets on PM KUSUM and PM Suryaghar. Catching up on open access green energy is the next large item on the solar agenda.

Huge Projects like these give off opportunities for locals to be employed during the construction and maintenance of the solar plants. Such projects will benefit the local communities by enabling them to earn income besides gaining practical skill experience in new areas. The solar energy projects will cut the cost of electricity in the long run as they use no fuel and maintain themselves less compared to the fuel-based power plants.

In the last year, MAHAPREIT collaborated with the Global Energy Alliance for People and Planet (GEAPP) to develop 500 MW of rooftop solar for SMEs and 500 MW of ground mounted solar under the PM KUSUM program.

All the projects proposed to be undertaken by MAHAPREIT are self-sufficient on financing through MAHAPREIT Alternative Infrastructure Fund (MAIF) or PPP/ OPEX models and intended to be implemented through Channel Partner mechanism called Target Partners, Knowledge Partners and Capex Partners. MAHAPREIT enters into MOU with technology suppliers, organisations /institutes of Eminence Professional bodies and associations, project developers in various sectors creates collaborative leverages, comforts and conducive support system to make available project funding and all implementation strategy and mechanism so as to generate large scale EMPLOYMENT and revenues for Schedule caste /weaker sections of state of Maharashtra improving their standards of living.