NTPC Green Energy, a subsidiary of India’s largest power utility NTPC, has announced a strategic collaboration with Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) to develop renewable energy parks and projects in Maharashtra. This partnership signifies a significant step towards advancing renewable energy infrastructure in the region, with a specific focus on establishing a 10 GW renewable energy park. The agreement, signed between Rajiv Gupta, CEO of NTPC Green Energy Ltd. (NGEL), and Amol Shinde, Chairman and Managing Director of MAHAPREIT, marks a milestone in the renewable energy sector.
The joint development initiative includes the establishment of grid-connected renewable energy parks and projects, encompassing solar, wind, hybrid, and other renewable energy solutions. Maharashtra, with its vast potential for renewable energy generation, is an ideal location for such ambitious projects. NTPC’s extensive experience and expertise in the energy sector, combined with MAHAPREIT’s local knowledge and resources, are expected to drive the success of these initiatives.
NTPC’s commitment to expanding its renewable energy portfolio is evident in the formation of NGEL, a fully owned subsidiary dedicated to renewable energy projects. NGEL will play a key role in implementing the renewable energy parks and projects in Maharashtra, focusing on innovative technologies such as green hydrogen, energy storage, and round-the-clock renewable energy solutions. This strategic move aligns with NTPC’s larger goal of achieving 60 GW of renewable energy capacity by 2032, a significant contribution to India’s renewable energy targets.
MAHAPREIT, as a wholly-owned subsidiary of the Mahatma Phule Backward Class Development Corporation (MPBCDC), brings a strong foundation and support from the Maharashtra government. This partnership not only aims to develop renewable energy infrastructure but also to promote sustainable development and create opportunities for local communities.
This collaboration is not only a strategic business move but also a significant step towards addressing environmental challenges and promoting sustainable development. By harnessing the power of renewable energy, NTPC Green Energy and MAHAPREIT are contributing to the reduction of carbon emissions and dependence on fossil fuels. The development of renewable energy parks and projects in Maharashtra will not only create employment opportunities but also stimulate economic growth in the region. Additionally, it will help Maharashtra achieve its renewable energy targets and contribute to India’s larger goal of transitioning towards a greener and more sustainable energy future.
