NTPC Green, UPRVUNL Form JV For Renewable Park Projects

NTPC Green Energy Limited (NGEL), an NTPC Limited subsidiary, and, Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL), a state-owned thermal power utility in Uttar Pradesh entered into a 51:49 joint venture (JV). This collaboration aims to develop, operate, and maintain renewable energy parks and projects.

NTPC Green announced its latest joint venture (JV) in a regulatory filing. It added that the company intends to develop, operate, and maintain renewable energy parks and projects. The company also mentioned, “Ministry of Power (MOP), Govt. of India, vide its letter dated 22.02.2024, forwarded the concurrence of DIPAM and NITI Aayog, which conveyed the approval for the formation of the JVC between NGEL, a subsidiary of NTPC Limited, and UPRVUNL, a U.P. Government Undertaking.”

Under the agreement, “NGEL has subscribed to 51,000 equity shares (along with Nominees) at the face value of ₹10 each. NGEL secured 51% shareholding/control by the listed entity.”

Solar Park Project In Uttar Pradesh

Last year, in 2024, NTPC Green Energy Ltd (NGEL) signed a slew of agreements to expand solar projects in the state. For instance, they entered a joint venture (JV) agreement with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) for the development of renewable power parks in the state. The JV was signed on 4th March 2024 at UPRVUNL’s office in Lucknow for the development of Renewable Power Parks and Projects in Uttar Pradesh.

Before that, in 2023, they signed a pact to develop renewable energy parks, floating solar, and other solar projects in Uttar Pradesh through a collaborative approach. The green arm of NTPC said that the move would likely boost the company to facilitate the Indian government’s efforts toward energy transition. Both institutions have now signed a Memorandum of Understanding (MoU) to work towards this direction jointly.