NTPC Green Energy and MAHAPREIT Form JV to Develop 10 GW RE Parks
NTPC Green Energy and MAHAPREIT have formed a 74:26 joint venture – NTPC-MAHAPREIT Green Energy, to develop up to 10 GW of renewable energy parks in Maharashtra and other Indian states.
April 09, 2025. By Mrinmoy Dey
“NTPC-MAHAPREIT Green Energy Ltd. has been incorporated on April 8, 2025 as a 74:26 joint venture of NTPC Green Energy (NGEL) and Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT),” the company stated in a regulatory filing.
The JV company will be engaged in the business of developing, operating and maintaining renewable energy parks including UMREPP/RE projects comprising solar, wind and hybrid projects with or without storage of up to 10 GW capacities in Maharashtra and any other state in India, it said.
In the JV, NGEL has subscribed 74,000 equity shares at the face value of INR 10 each.
NTPC aims to achieve 50 percent non-fossil fuel-based power generation capacity and 60 GW of renewable energy capacity in its portfolio by 2032. And, for this, the company is going for aggressive expansion of RE projects across India.
Last month, NTPC and its subsidiary NTPC Green Energy Ltd. (NGEL) have signed agreements worth INR 96,000 crore with the Chhattisgarh government at the Chhattisgarh Energy Investors Summit 2025 to develop nuclear, pumped hydro, and renewable energy projects in the state. As part of the agreements, 4,200 MW nuclear capacity, 1,200 MW pumped hydro storage and 2 GW of renewable energy projects.
In February 2025, NTPC group signed multiple MoUs with the Madhya Pradesh government during the Global Investors Summit 2025 to develop renewable energy projects, including solar, wind, and pumped hydro, with a total investment of over INR 2 lakh crore.
The first MoU was signed between NGEL and Madhya Pradesh Power Generating Company (MPPGCL) for setting up renewable energy projects up to 20 GW or more in the state, at an approximate investment of INR 1.2 lakh crore.
In February 2025, NGEL formed a 50:50 JV company with the New and Renewable Energy Development Corporation of AP Ltd (NREDCAP) - AP NGEL Harit Amrit Ltd., to develop 25 GW solar/wind, 10 GW pumped storage, and 0.5 MMTPA green hydrogen projects.
In January 2025, NGEL and Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) formed NTPC Rajasthan Green Energy Ltd., a 74:26 joint venture to develop up to 25 GW renewable energy projects and green hydrogen projects up to 1 million tonne capacities in Rajasthan.
In the same month, NGEL and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd. (UPRVUNL) announced the formation of a joint venture, NTPC UP Green Energy Ltd., to develop, operate, and maintain renewable energy parks and projects.
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