NTPC Green Energy Forms JV with Uttar Pradesh Rajya Vidyut Utpadan Nigam for RE Projects
NTPC Green Energy Ltd. (NGEL) and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd. (UPRVUNL) have formed a joint venture, NTPC UP Green Energy Ltd., to develop, operate, and maintain renewable energy parks and projects.
January 06, 2025. By Mrinmoy Dey
In the new JV entity, NTPC UP Green Energy Ltd., NGEL holds 51 percent stake, while UPRVUNL holds 49 percent stake.
“NTPC UP Green Energy Ltd. has been incorporated on January 1, 2025 as 51:49 joint venture of NTPC Green Energy Ltd. (NGEL) and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd. (UPRVUNL). The certificate of incorporation issued by the Registrar of Companies was received on January 4, 2025,” the company shared in a regulatory filing.
NGEL has subscribed 51,000 equity shares (along with nominees) at the face value of INR 10 each.
Recently, NTPC Renewable Energy Ltd. (NTPC REL), a subsidiary of NGEL, has secured 1,000 MW at a tariff of INR 2.56/kWh in Uttar Pradesh Power Corporation’s (UPPCL) auction for 2,000 MW of ISTS-connected solar PV power 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.
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