NTPC Green Energy Forms JV with RVUNL for 25 GW RE Projects in Rajasthan
NTPC Green Energy (NGEL) and Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) have 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.
January 09, 2025. By Mrinmoy Dey
Accordingly, a joint venture entity – NTPC Rajasthan Green Energy Ltd. has been incorporated on January 8, 2025 as a subsidiary of NGEL. In this newly formed entity, NGEL holds 74 percent stake and RVUNL holds 26 percent stake, the company informed in a regulatory filing.
“NGEL has subscribed 74,000 equity shares (along with nominees) at the face value of INR 10 each,” it said.
The objective of this JV is to develop, operate and maintain renewable energy parks including UMREPP/RE Projects comprising solar, wind and hybrid projects with or without storage up to 25 GW capacities in Rajasthan.
The JV entity will also undertake the development of green hydrogen, and its derivatives including green ammonia and green methanol etc. up to 1 million tonne capacity through a suitable model.
A week back, NTPC Green Energy Ltd. (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.
In a similar move, in November 2024, NTPC Green Energy formed a 50:50 joint venture with Maharashtra State Power Generation Company Ltd. (MAHAGENCO). The JV entity will develop, operate and maintain renewable energy parks in Maharashtra.
NGEL is also developing India's first Green Hydrogen Hub under the National Green Hydrogen Mission in Pudimadaka, Visakhapatnam with an investment of about INR 1.85 lakh crore. PM Narendra Modi laid the foundation stone for the project on January 8, 2025.
The hub will feature 20 GW of renewable energy capacity, producing 1,500 TPD of green hydrogen and 7,500 TPD of derivatives like green methanol, urea, and sustainable aviation fuel, mainly for export markets.
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