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India’s largest integrated energy company, NTPC Limited, along with its subsidiary NTPC Green Energy Ltd (NGEL), has signed several Memorandums of Understanding (MoUs) with the Government of Madhya Pradesh during the Global Investors Summit held in Bhopal on February 24-25, 2025. The agreements focus on the development of renewable energy projects utilizing solar, wind, pumped hydro, and other carbon-neutral energy sources in the state. The first MoU was signed between NGEL and Madhya Pradesh Power Generating Company Limited (MPPGCL) for the establishment of renewable energy projects with a total capacity of up to 20 GW or more, with an estimated investment of Rs. 1,20,000 Crore. This agreement will pave the way for the creation of a Joint Venture Company (JVC) that will assist in fulfilling the Renewable Generation Obligation (RGO) of Madhya Pradesh Generating Company and the Renewable Purchase Obligation (RPO) of Madhya Pradesh DISCOMs. The second MoU, signed between NTPC Ltd. and the Government of Madhya Pradesh, focuses on sustainable non-fossil fuel power plants with an estimated investment of Rs. 80,000 Crore. This MoU was signed by Madhya Pradesh Power Management Company Limited (MPPMCL) on behalf of the state government. Additionally, an agreement was made between the Government of Madhya Pradesh and NTPC to invest approximately Rs. 4,000 Crore in the development of an 800 MW Pumped Hydro Storage Project in the state. The MoUs were signed in the presence of Dr. Mohan Yadav, Hon’ble Chief Minister of Madhya Pradesh, and Shri Gurdeep Singh, CMD of NTPC Ltd., along with senior officials from both the Government of Madhya Pradesh and NTPC Ltd. These collaborations are expected to play a crucial role in promoting sustainable energy solutions, supporting the Government of India’s energy transition efforts, and achieving Net Zero targets. NTPC Ltd., India’s largest integrated power utility, meets about a quarter of the country’s power demand and has an installed capacity of over 77 GW, with an additional 29.5 GW under construction, including 9.6 GW from renewable sources. The company aims to reach 60 GW of renewable energy capacity by 2032. With a diversified portfolio encompassing thermal, hydro, solar, and wind power plants, NTPC is committed to providing reliable, affordable, and sustainable electricity to the nation while adopting innovative practices and clean energy technologies for a greener future. |
