NTPC Renewable Energy Signs MoU with GEDA for 300 MW RE Project in Goa
NTPC Renewable Energy Ltd., a wholly-owned subsidiary of NTPC Green Energy, has 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.
July 19, 2025. By Mrinmoy Dey
The MoU was exchanged on July 18, 2025 between Gauresh Ashok Pilgaonkar, Managing Director, GEDA and Pushpendra Tyagi, CFO, NTPC REL in the presence of the Chief Minister of Goa and other senior officials.
Recently, 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 investment in its subsidiary NTPC Green Energy.
Subsequently, NGEL will be investing in NTPC REL and its other JVs/ subsidiaries beyond 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 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 March 2025, NTPC and its subsidiary NGEL 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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