NGEL-RVUNL Ink JV Deal for Renewable Energy in Rajasthan

NGEL-RVUNL Ink JV Deal for Renewable Energy in Rajasthan

NTPC Green Energy Limited (NGEL), the subsidiary of NTPC Limited has now inked a Joint Venture Agreement with Rajasthan Rajya Vidyut Utpadan Nigam Limited. The two organizations agreed to join hands to move ahead with green energy and green hydrogen projects in Rajasthan.

The deal was finalized in Jaipur. Rajasthan CM Bhajan Lal Sharma attended the joint signing of the JVA. Rajiv Gupta-CEO NGEL, and Devendra Shringi-CMD RVUNL signed on the dotted line. State Ministers and officials attended the ceremony to sign the deal.

The venture will entail the development of 25 GW of renewable energy projects. It also plans to produce 1 MMTPA of green hydrogen and its derivatives taking a step towards sustainability to reify renewable energy goals.

As part of the event, the Chief Minister inaugurated 160 MW of a 320 MW solar power project at Bhainsara in Rajasthan. The organizations aim to begin taking steps forward on the journey toward sustainable energy solutions through their partnership from which, NGEL and RVUNL can benefit by utilizing their strengths in the energy sector to encourage growth in renewable sources and the production of green hydrogen.

NGEL’s initiative supports India’s overall vision of moving toward a greener economy. It highlights co-operation between state-owned enterprises and supports the country’s pursuit of energy security whilst it reduces carbon intensity.