NTPC arm NGEL signs JV with UPRVUNL

The objective is to hive off the identified Renewable Energy Assets of NTPC along with NTPC Renewable Energy Limited and carry out monetization of the wholly owned Company through IPO or strategic investment route, subject to requisite approvals or clearances.

NTPC arm NGEL signs JV with UPRVUNL
Representational image

NTPC wholly owned subsidiary NTPC Green Energy Limited has signed a joint venture agreement with UPRVUNL to establish Renewable energy Parks and Projects in Uttar Pradesh.

To realize the green energy objectives of NTPC and the GOI’s efforts towards energy transition, NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC Limited, signed a Joint venture Agreement with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) on 4th March 2024 at UPRVUNL’s office at Lucknow for development of Renewable Power Parks and Projects in Uttar Pradesh.

Read Also : GAIL commences first green hydrogen plant under national green hydrogen mission

The JV Agreement was signed between Shri S K Dutta, Director, (Projects & Commercial), UPRVUNL, and Shri V V Sivakumar, CGM, NGEL in the August presence of Shri P Guruprasad, IAS, Principal Secretary (Revenue), Govt. of UP, Shri Ranvir Prasad, IAS, MD, UPRVUNL, Shri N S Rao, Regional Executive Director (North), NTPC along with other senior officials from NTPC, NGEL and UPRVUNL.

Read Also : RVNL emerges Lowest bidder from MMRC, Nagpur metro

The REpower generated from the proposed JVC shall meet the Renewable Generation Obligation (RGO) of the UPRVUNL. NTPC Green Energy Limited was incorporated on 7th April 2022 as a wholly-owned subsidiary of NTPC. The objective is to hive off the identified Renewable Energy Assets of NTPC along with NTPC Renewable Energy Limited and carry out monetization of the wholly owned Company through IPO or strategic investment route, subject to requisite approvals or clearances.

Read Also : NMDC Steel Ltd unveiled its logo