NTPC Green Energy, Chhattisgarh State Power Generation Company Form JV for 2 GW RE Projects
NTPC Green Energy has formed a 74:26 joint venture with Chhattisgarh State Power Generation Company to develop 2 GW of renewable energy projects in the state, with an approximate investment of INR 10,000 crore.
December 06, 2025. By Mrinmoy Dey
In the newly incorporated JV entity, Chhattisgarh NTPC Green Energy, NGEL will hold 76 percent stake, while CSPGCL will hold 26 percent stake, the company stated in a regulatory filing.
“The objective of the company is to develop, operate and maintain renewable energy park including UMREPP and project(s) in Chhattisgarh or any other identified locations comprising solar, wind or hybrid up to 2 GW capacities and identification of reservoirs for development of floating solar projects,” it said.
NGEL and CSPGCL signed the JV agreement in March 2025 to develop renewable energy projects up to 2 GW in the state, at an approximate investment of INR 10,000 crore which will help in meeting Renewable Generation Obligation (RGO) of CSPGCL as well as Renewable Purchase Obligation (RPO) of Chhattisgarh DISCOM. The proposal received concurrence from DIPAM in April 2025.
This was part of NTPC Group’s MoUs 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 July 2025, the Cabinet Committee on Economic Affairs (CCEA) granted enhanced delegation of power to NTPC from the extant guidelines of delegation of power to Maharatna CPSEs for making an investment in its subsidiary NTPC Green Energy.
Subsequently, NGEL will be investing in NTPC REL and its other JVs/ subsidiaries beyond the earlier approved prescribed limit of INR 7,500 crore up to an amount of INR 20,000 crore for renewable energy (RE) capacity addition to achieve 60 GW renewable energy capacity by 2032.
NTPC Group has increased its activity in the RE sector and the company is going for aggressive expansion of RE projects across India to achieve its RE target.
In July 2025, NTPC Renewable Energy signed an MoU with the Goa Energy Development Agency (GEDA) to develop 300 MW or more of renewable energy projects, with or without storage in Goa.
In April 2025, NTPC Green Energy and Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) formed a joint venture (JV) company to develop, operate and maintain renewable energy parks of up to 10 GW capacities in Maharashtra and other states.
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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