NTPC Green Energy, MAHAGENCO join hands to develop renewable energy parks in Maharashtra


NTPC Green Energy Ltd (NGEL), an arm of NTPC Ltd, has signed a joint venture agreement with Maharashtra State Power Generation Co. Ltd (MAHAGENCO) to develop renewable energy parks in the state of Maharashtra.

The company to be set up under the joint venture will develop GW-scale renewable energy parks and undertake projects of this scale in a phased manner. 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 utility with a total installed capacity, including JVs and subsidiaries, of around 74 GW. As part of increasing its renewable energy portfolio, it has formed NTPC Green Energy that 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 targets 60 GW of installed renewable energy capacity by the year 2032. Currently, it has 3.4 GW of installed RE capacity and more than 22 GW under pipeline.

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-based power plant capacity.

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