NTPC Green Energy inks JV for 10 GW of renewable energy projects

This will focus on clean energy parks.

NTPC Green Energy Limited (NGEL), an arm of NTPC Ltd, has signed a joint venture (JV) with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd. to boost the development of renewable energy in India.

Specifically, the parties will build 10 gigawatts (GW) of clean energy projects in Maharashtra and other parts of India. They will focus on building renewable energy parks and projects, helping NTPC achieve its 60 GW clean energy target by 2032.

NGEL is hoping to launch an initial public offering of nearly $120m (INR10,000 crore) which will be used to boost its plans to expand in the renewable energy sector.

$1 = INR83.64