NGEL, NTPC Arm, Signs JV with UPRVUNL for Power Parks

NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC Limited, has entered into a joint venture agreement with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) for development of renewable power parks and projects in Uttar Pradesh. The agreement was signed on March 4, 2024, at UPRVUNL’s office in Lucknow.

Renewable Power Parks and Projects

The joint venture company (JVC) will develop renewable power parks and projects in Uttar Pradesh, with an aim to realize the green energy objectives of NTPC and the Government of India’s efforts towards energy transition. The renewable energy (RE) power generated from the JVC will meet the Renewable Generation Obligation (RGO) of UPRVUNL.

According to the exchange filing by NTPC, the JVC will have an initial authorized share capital of Rs 10 crore, divided into 1 crore equity shares of Rs 10 each. The shareholding pattern of the JVC will be 51 percent by NGEL and 49 percent by UPRVUNL.

NGEL’s Green Energy Portfolio

NGEL is a subsidiary of NTPC Limited, India’s largest power producer and a Maharatna company. NGEL was incorporated in 2008 with an objective to develop, construct, operate and maintain renewable energy projects such as solar, wind, small hydro, biomass etc.

As of March 2024, NGEL has an installed capacity of 920 MW of renewable energy projects, comprising 907 MW of solar and 13 MW of small hydro. NGEL also has around 2,300 MW of renewable energy projects under construction across the country.

NGEL is also exploring opportunities for developing green hydrogen projects, floating solar projects, offshore wind projects and waste-to-energy projects in India and abroad.

UPRVUNL’s Power Generation Capacity

UPRVUNL is a state-owned power generation company in Uttar Pradesh. It was established in 1980 with an aim to operate thermal power stations within the state. UPRVUNL also operates one hydro-electric plant and co-generates power from bagasse obtained from sugar mills.

As of March 2024, UPRVUNL has an installed capacity of 5,678 MW of thermal power and 86 MW of hydro power. UPRVUNL also has around 1,320 MW of thermal power projects under construction in Uttar Pradesh.

UPRVUNL is committed to meeting the power demand of Uttar Pradesh in an efficient and environment-friendly manner. UPRVUNL is also undertaking various initiatives to increase its renewable energy portfolio and reduce its carbon footprint.

Conclusion

The joint venture agreement between NGEL and UPRVUNL is a significant step towards enhancing the renewable energy capacity and meeting the RGO of Uttar Pradesh. The JVC will leverage the expertise and experience of both the partners to develop green power parks and projects in the state. The JVC will also contribute to the national goal of achieving 450 GW of renewable energy by 2030.

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