New Delhi: NTPC Green Energy Limited (NGEL) and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) have formalized a strategic partnership through a Memorandum of Understanding (MoU). The signing ceremony took place at the NTPC Corporate Office in New Delhi, marking a step towards realizing the renewable energy objectives of NTPC and the Government of India's (GOI) endeavors for energy transition.

The MoU, signed by Rajiv Gupta, Chief Executive Officer of NGEL, and Amol Shinde, Chairman and Managing Director of MAHAPREIT, outlines collaborative efforts for the development of Renewable Energy Power Parks and Projects. This collaboration is aimed at bolstering the green energy landscape by leveraging the strengths of both entities.

Under the terms of the MoU, NGEL and MAHAPREIT will jointly undertake the development of grid-connected Renewable Energy parks and Projects, encompassing solar, wind, hybrid, and other sustainable solutions, with a collective capacity of up to 10 GW in Maharashtra.

NTPC, India's foremost Power Utility with a substantial installed capacity of over 76 GW, has been actively diversifying its energy portfolio towards renewables. NGEL, its wholly-owned subsidiary, is spearheading initiatives in Renewable Energy Parks and Projects, including ventures in Green Hydrogen, Energy Storage Technologies, and Round-the-Clock RE Power. With ambitious plans to achieve 60 GW of renewable energy capacity by 2032, NTPC Group is poised to significantly contribute to India's sustainable energy future.

On the other hand, MAHAPREIT, a subsidiary of Mahatma Phule Backward Class Development Corporation under the Government of Maharashtra, is dedicated to advancing renewable power generation, trading, and operations. Through this collaboration, MAHAPREIT aims to further its mission of promoting sustainable energy solutions and contributing to the state's renewable energy targets.

The signing ceremony was attended by senior officials from NTPC, NGEL, and MAHAPREIT. /BI