Power major inks MoUs with Madhya Pradesh government at Global Investors Summit
Team News Riveting
New Delhi, February 24
India’s largest integrated energy company, NTPC Limited along with its subsidiary NTPC Green Energy Ltd (NGEL) has signed multiple MoUs with the Government of Madhya Pradesh during the two-day Global Investors Summit that started at Bhopal on Monday.
It includes renewable projects based on Solar, Wind, Pump Hydro and other carbon neutral energy sources in the state of Madhya Pradesh. The first MoU was signed between NGEL and Madhya Pradesh Power Generating Company Limited (MPPGCL) for setting up Renewable Energy projects up to 20 GW or more in the state, at an approximate investment of Rs 1,20,000 crore.
This has paved the way for formation of a Joint Venture Company (JVC), which will help in mitigating the Renewable Generation Obligation (RGO) of Madhya Pradesh Generating Company as well as Renewable Purchase Obligation (RPO) of Madhya Pradesh DISCOMs.
The second MOU was signed between NTPC Ltd. and Government of Madhya Pradesh for other sustainable non-fossil fuel power plants at an estimated investment of Rs 80,000 crore. Madhya Pradesh Power Management Company Limited (MPPMCL), has signed this MoU on behalf of the state government.
An agreement was also signed between Madhya Pradesh government and NTPC, pertaining to an intent to invest approximately Rs 4,000 crore in setting up 800 MW of Pumped Hydro Storage Project in the state.
The MoUs were signed in the presence of the Mohan Yadav, Chief Minister of MP and Gurdeep Singh, CMD, NTPC Ltd. along with other senior officials of Govt of MP and NTPC Ltd. The development will play a significant role in promoting sustainable energy solutions while strengthening GOI’s efforts towards energy transition and Net Zero targets.
NTPC Ltd. is India’s largest integrated power utility, contributing one-fourth of the India’s power requirements and has an installed capacity of over 77 GW, with an additional capacity of 29.5 GW under construction, including 9.6 GW of renewable energy capacity. The company is committed to achieving 60 GW of renewable energy capacity by 2032.
With a diverse portfolio of thermal, hydro, solar, and wind power plants, NTPC is dedicated to delivering reliable, affordable, and sustainable electricity to the nation. The company is committed to adopting best practices, fostering innovation, and embracing clean energy technologies for a greener future.
