NTPC Green Energy and MAHAPREIT Partner for 10 GW Renewable Energy Projects in Maharashtra

NTPC Green Energy Limited partners with MAHAPREIT to develop 10 GW of renewable energy parks, advancing India's clean energy goals. NGEL’s IPO worth Rs 100 billion is also on the horizon.

NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC, has entered into a strategic Joint Venture Agreement (JVA) with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) to spearhead the development of 10 GW of renewable energy parks and projects across Maharashtra and other states in India. This move further strengthens India’s commitment to expanding its renewable energy infrastructure and accelerating its transition to clean energy.

A Bold Step Towards Renewable Energy Expansion

The joint venture between NGEL and MAHAPREIT will focus on creating large-scale renewable energy parks, contributing significantly to India’s renewable energy targets. This collaboration follows NGEL’s recent ventures, underscoring its proactive approach in fostering partnerships for renewable energy development.

In September 2024, NGEL teamed up with Rajasthan Rajya Vidyut Utpadan Nigam Limited to meet NTPC’s green hydrogen and renewable energy goals. The collaboration aims to develop 25 GW of renewable energy projects and 1 million metric tonnes per annum (MMTPA) of green hydrogen in Rajasthan, reflecting NGEL’s expansive vision for clean energy in India.

NGEL's Growing Influence in Renewable Energy

In addition to this, NGEL recently awarded the Suzlon Group a substantial wind energy order of 1,166 MW. Suzlon will supply and install 370 wind turbine generators across three major projects, including NTPC Renewable Energy Limited's two projects and a joint venture between NGEL and Indian Oil Corporation in Gujarat.

Anticipating NGEL’s IPO Launch

NGEL’s momentum in renewable energy is further complemented by its upcoming Initial Public Offering (IPO) valued at Rs 100 billion. The company has already filed the draft papers for the IPO, highlighting its ambitious plans to scale its renewable energy initiatives and increase its market presence.