NGEL To Develop Renewable Energy Parks with MAHAGENCO In Maharashtra

NGEL To Develop Renewable Energy Parks with MAHAGENCO In Maharashtra. Photo: PIB.

NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC Limited, has signed a joint venture agreement with Maharashtra State Power Generation Company Limited (MAHAGENCO), for the development of Renewable Energy Parks in the state of Maharashtra. The company to be set up under the joint venture will develop GW-scale renewable energy parks and undertake projects of this scale in a phased manner. The agreement aligns with the green energy objectives of NTPC and is another step in the Government of India’s efforts towards energy transition.

The Joint Venture Agreement was signed at NTPC headquarters in New Delhi on 28^th February, by Director (Projects), MAHAGENCO, Abhay Harne and CGM (NGEL), VV Sivakumar in the presence of CMD, NTPC Limited, Shri Gurdeep Singh, CMD, MAHAGENCO, Dr. P. Anbalagan, Director (Projects), NTPC Limited and Chairman (NGEL), KS Sundaram, CEO (NGEL), Shri Mohit Bhargava, and CEO, NTPC REL, Rajiv Gupta, along with other senior officials from NGEL and MAHAGENCO.

NTPC Group has plans to attain 60 GW of renewable energy capacity by the year 2032. Currently, it has 3.4 GW of installed RE capacity and more than 22 GW under the pipeline. NTPC is committed to supporting Maharashtra’s and India’s decarbonisation goals. On the other hand, MAHAGENCO has an installed capacity of about 13,170 MW including 9,540 MW Thermal, 2,580 MW Hydro, 672 MW Gas, and 378 MW Solar-based Power Plant capacity.

NTPC Green Energy Limited (NGEL) recently announced the development of Green Hydrogen project and its derivatives (Green Ammonia, Green Methanol) with the Maharashtra government. The project is expected to generate up to 1 million ton capacity per annum. Some other projects that have been planned to develop include Pump Hydro Projects (PHP) of 2 GW and the development of renewable energy (RE) projects with or without storage of up to 5 GW in the state.

Earlier in the month, ONGC and NGEL have signed a Joint Venture Agreement (JVA) to focus on offshore wind energy projects. The development was widely expected considering the push into offshore wind, and ONGC’s own experience with the domain relatively among energy majors.