NTPC RE, Greenko sign Green Power supply agreement

29 Mar 2023 , 11:45 AM

NTPC Renewable Energy Limited, a company fully owned by NTPC Green Energy Limited, has recently agreed to a preliminary agreement with Greenko ZeroC Pvt Ltd, which is part of the Greenko Group.

The deal was signed on March 28th, 2023, and entails the provision of 1300 MW of renewable energy to power Greenko’s upcoming Green Ammonia Plant in Kakinada, India. Renewable energy will be available around the clock, ensuring a constant and reliable power supply for the facility.

In the presence of various high-ranking officials from NTPC Renewable Energy Limited and Greenko, including Mohit Bhargava, the CEO of NTPC Renewable Energy Limited, and Anil Chalamalasetty, the Founder and MD of Greenko, the Term Sheet was signed.

The agreement between the two companies is one of the world’s largest single contracts for the supply of continuous renewable energy to an industrial client.

Rajiv Gupta, Chief General Manager of NTPC Renewable Energy Limited, and Mahesh Kolli, Founder and Joint Managing Director of Greenko Group, signed the Term Sheet at the NTPC office in New Delhi.

At around 11.44 AM, NTPC was trading 0.17% higher at Rs172.30, against the previous close of Rs172 on NSE.

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