Ahead Of IPO Listing, NTPC Green Forms JV With MAHAGENCO - Details

State-owned NTPC has announced the establishment of a 50:50 joint venture with Maharashtra State Power Generation Company Ltd (MSPGCL) to accelerate renewable energy initiatives in Maharashtra. The newly formed entity, MAHAGENCO NTPC Green Energy Private Limited (MNGEPL), will focus on the development, operation, and maintenance of renewable energy parks in the state.

Details of the Joint Venture

According to a regulatory filing, the joint venture was incorporated on November 25, 2024, and will be jointly owned by NTPC Green Energy Ltd (NGEL), a wholly-owned subsidiary of NTPC Ltd., and Maharashtra State Power Generation Company Ltd (MAHAGENCO), a state government-owned company. The two parties will work together on renewable energy projects, including those under the UMREPP (Ultra Mega Renewable Energy Parks) scheme. The JV will also facilitate the allotment of land for the development of renewable energy projects.

NTPC Green Energy's Commitment to Growth

As part of the partnership, NGEL has subscribed to 50,000 equity shares in the newly formed company at a face value of Rs 10 each. The JV marks a significant step in NTPC's strategic push into the renewable energy space, with the company positioning itself for an upcoming IPO .

Future Plans for Renewable Energy Development

MNGEPL will be responsible for the creation of large-scale renewable energy parks in Maharashtra, which are expected to contribute significantly to the state’s green energy ambitions. With the backing of both NTPC and MAHAGENCO, the joint venture is poised to play a vital role in expanding the renewable energy infrastructure in the region.