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NTPC Green Energy Limited (NGEL), an NTPC Limited subsidiary, and Maharashtra State Power Generation Company Limited (MAHAGENCO) have signed a joint venture agreement to develop renewable energy parks in Maharashtra. The joint venture's company will create GW-scale renewable energy parks and gradually take on projects of this magnitude. The Ministry of Power said, "The agreement aligns with the green energy objectives of NTPC and is another step in the Government of India's efforts towards energy transition."
NTPC is India's largest integrated power company, having a total installed capacity of around 74 GW, including JVs and subsidiaries. As part of increasing its renewable energy portfolio, “NTPC Green Energy Limited” (NGEL), a wholly owned subsidiary, has been formed, which will take up renewable energy parks and projects, including businesses in the area of green hydrogen, energy storage technologies, and round-the-clock renewable energy.
NTPC Group plans to attain 60 GW of renewable energy capacity by 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.
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-brd power plant capacity.
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