NTPC, DVC Incorporate Green Valley Renewable Energy as Joint Venture

The National Thermal Power Corporation (NTPC) has confirmed through a filing before the Bombay Stock Exchange (BSE) that its green energy arm NTPC Renewable Energy has incorporated Green Valley Renewable Energy to develop, operate and maintain renewable energy parks and projects. The new company will be a joint venture of NTPC with Damodar Valley Corporation (DVC).

The filing held, ”NTPC Renewable Energy Limited (NTPC REL), a wholly-owned subsidiary of NTPC Limited, has incorporated Green Valley Renewable Energy Limited, as a subsidiary of NTPC REL in 51:49 Joint Venture with DVC on 25 August 2022.”

The Registrar of Companies issued a Certificate of Incorporation for Green Valley Renewable Energy on September 6, 2022. As far as the key objectives of the new company are concerned, it will develop, operate and maintain renewable energy parks and projects in Damodar Valley Corporation owned reservoirs and land.

In October, 2020, NTPC had incorporated its wholly owned subsidiary NTPC Renewable Energy Limited for the development of green and clean energy sources for the CPSU. By 2032, the company plans to have 60GW capacity through RE sources constituting nearly 45% of its overall power generation capacity.

NTPC currently has 2.3 GW of operational renewable capacity, while another 3.9 GW is being implemented and put into operation. The largest power producer in India, NTPC, is now in the process of awarding contracts for 4.9 GW of renewable energy capacity.

NTPC has a commissioned capacity of 2,104 MW of renewable energy projects under ‘own capacity addition’ and about 1300 MW of projects are currently under the implementation stage. It also has 3725 MW of hydro-based power projects.

The government owned company is also planning to develop two nuclear reactors in India of 700 MW in partnership with National Thermal Power Corporation Limited (NTPC). Earlier in August, NTPC had announced that it is making its debut in the nuclear power segment by constructing two reactors in Haryana’s Gorakhpur.