Team News Riveting
New Delhi, January 5
NTPC Green Energy Limited, a subsidiary of NTPC Limited, has incorporated a joint venture (JV) with Uttar Pradesh Rajya Vidyut Nigam Limited (UPRVUNL).
The entity, which has been incorporated on January 01, 2025, will be known as known as NTPC UP Green Energy Limited, the company said in a regulatory filing today. NTPC Green Energy Limited will hold 51 per cent stake in the JV, while the remaining stake will be controlled by UPRVUNL.
“It is hereby informed that “NTPC UP GREEN ENERGY LIMITED”, has been incorporated on 01.01.2025 as 51:49 joint venture of NTPC Green Energy Limited (NGEL) and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL). The certificate of incorporation issued by the Registrar of Companies was received on 04.01.2025. The purpose of the JV is to develop, operate and maintain Renewable Energy Park(s) and Projects(s),” the company said.
Ministry of Power (MOP), Govt. of India vide its letter dated 22.02.2024 forwarded concurrence of DIPAM and NITI Aayog, which conveyed the approval for formation of JVC between NGEL, a subsidiary of NTPC Limited and UPRVUNL, a U.P. Government Undertaking,” the company said in the filing.
NTPC Renewable Energy Limited (NGEL) had earlier emerged as a successful bidder in the e-reverse auction conducted by Uttar Pradesh Power Corporation Limited (UPPCL). The tender, aimed at the “Selection of Solar Power Developers for Setting up 2000 MW ISTS-connected Solar PV Power Projects in India under Tariff-Based Competitive Bidding,” conducted on January 3, 2025.
