NTPC, MAHAPREIT to build renewable energy parks in Maharashtra

9 May 2024 , 12:25 PM

Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) and the state-owned power behemoth NTPC announced on Wednesday that they have signed an agreement to construct renewable energy parks and projects in Maharashtra.

This announcement was made by NTPC Green Energy. Amol Shinde, Chairman and Managing Director of MAHAPREIT, and Rajiv Gupta, Chief Executive Officer of NTPC Green Energy Ltd. (NGEL), inked the agreement, according to a statement.

The agreement calls for the cooperative creation of a grid-connected renewable energy park in Maharashtra, as well as projects including solar, wind, hybrid, and other energy sources, and/or solutions up to 10 GW.

The largest power utility in India is NTPC, with more than 76 GW of installed generation capacity.

A fully owned subsidiary called NGEL has been established to take up renewable energy parks and projects, including companies in the fields of green hydrogen, energy storage technologies, and 24/7 renewable energy, as part of NTPC’s attempts to expand its portfolio of renewable energy sources.

The goal of the NTPC group is to reach 60 GW of RE capacity by 2032. It’s installed RE capacity is currently 3.5 GW, and it has more than 28 GW in pipeline.

Mahatma Phule Backward Class Development Corporation (MPBCDC), a Maharashtra government entity established to engage in the production, trading, operation, leasing, and rental of renewable energy, is the parent company of MAHAPREIT.

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