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NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, has announced the incorporation of a new joint venture company, NTPC Rajasthan Green Energy Limited, on January 8, 2025. This joint venture has been established in partnership with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL), a Government of Rajasthan undertaking. NGEL holds a 74% stake in the new company, while RVUNL holds 26%.
NTPC Rajasthan Green Energy Limited has been formed with the primary objective of developing, operating, and maintaining renewable energy parks and projects in Rajasthan. These include solar, wind, and hybrid renewable energy projects with or without energy storage, targeting a total capacity of up to 25 GW. Additionally, the company aims to develop green hydrogen and its derivatives, such as green ammonia and green methanol, with a production capacity of up to 1 million tons through a suitable operational model.
The formation of this joint venture received necessary approvals from the Ministry of Power, which had forwarded the concurrence of the Department of Investment and Public Asset Management (DIPAM) and NITI Aayog. The venture’s establishment aligns with India’s renewable energy goals and highlights NTPC’s commitment to sustainable energy development.
NGEL subscribed to 74,000 equity shares of the joint venture at a face value of ?10 each, representing its 74% ownership in the company. The remaining 26% stake is held by RVUNL.
The new venture marks a significant step in NTPC’s efforts to expand its renewable energy portfolio and support India’s energy transition. By leveraging Rajasthan’s renewable energy potential, NTPC Rajasthan Green Energy Limited aims to contribute meaningfully to the country’s green energy objectives, including the development of large-scale renewable projects and green hydrogen initiatives. |
