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NTPC Green Energy Limited (NGEL) and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) signed a Memorandum of Understanding (MoU), with the goal to develop renewable energy projects up to 10 GW in Maharashtra.
Under the presence of Jaikumar Srinivasan, Director (Fin & HR), NTPC, and other senior officials from NTPC, NGEL, and MAHAPREIT, the MoU was signed at the NTPC Corporate Office in New Delhi by Rajiv Gupta, CEO, NGEL, and Amol Shinde, Chairman and Managing Director, MAHAPREIT.
"The MoU envisages the joint development of grid connected Renewable Energy Park and Projects including Solar, Wind, Hybrid etc. and/or solutions thereof up to 10 GW in the state of Maharashtra," according to a statement from NTPC.
NTPC is India's largest power utility with a total installed capacity of over 76 GW. "As part of increasing its renewable energy portfolio, a fully owned subsidiary has been formed as NTPC Green Energy Limited (NGEL)," the statement reads. "We aim for 60 GW of RE capacity by 2032, with 3.5 GW currently installed and over 28 GW in the pipeline," it added.
MAHAPREIT is a subsidiary of Mahatma Phule Backward Class Development Corporation (MPBCDC), a State Public Sector Undertaking under the Government of Maharashtra. "MAHAPREIT's objective is to establish and carry on the business of generating, trading, operating, leasing, and renting renewable power," the statement noted.
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