NTPC and MAHAGENCO Unveil Joint Venture for Renewable Energy Parks
NTPC's subsidiary has partnered with Maharashtra State Power Generation Company Ltd. to form MAHAGENCO NTPC GREEN ENERGY PRIVATE LIMITED. This joint venture aims to develop and manage renewable energy parks in Maharashtra. The joint entity was officially incorporated on November 25, 2024, with an equal partnership.
- Country:
- India
NTPC, a state-owned enterprise, announced the establishment of a joint venture with Maharashtra State Power Generation Company Ltd. The collaboration, named MAHAGENCO NTPC GREEN ENERGY PRIVATE LIMITED (MNGEPL), aims to spearhead the development and management of renewable energy parks within Maharashtra.
According to official filings, MNGEPL was incorporated on November 25, 2024, as a 50:50 joint endeavor between NTPC Green Energy Ltd, a wholly-owned subsidiary of NTPC Ltd, and Maharashtra State Power Generation Company Ltd (MAHAGENCO), a government-owned entity.
The joint venture focuses on driving the business of developing, operating, and maintaining renewable energy parks in Maharashtra under the UMREPP framework, facilitating the launch of renewable energy projects within the region, with NGEL subscribing to 50,000 equity shares valued at Rs 10 each.
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