NTPC to invest over INR 2 lakh crore in Madhya Pradesh’s energy sector

This will fund mostly renewable projects.

NTPC Limited has inked several deals with the government of Madhya Pradesh to inject INR 2 lakh crore into the state’s energy industry.

In a bourse filing, NTPC said its subsidiary NTPC Green Energy Ltd (NGEL) has committed INR 120,000 crore to set up renewable energy projects up to 20 gigawatts (GW) or more in the state. A joint venture will be formed to help in mitigating the Renewable Generation Obligation (RGO) of Madhya Pradesh Generating Company as well as Renewable Purchase Obligation (RPO) of Madhya Pradesh DISCOMs.

A deal was also signed between NTPC and Madhya Pradesh for other sustainable non-fossil fuel power plants for INR 80,000 crores. Meanwhile, around INR 4,000 crores will be invested in setting up an 800-megawatt pumped hydro storage project in the state.

NTPC has an installed capacity of over 77 GW, with an additional capacity of 29.5 GW under construction, including 9.6 GW of renewable energy capacity.

The company aims for 60 GW of renewable energy capacity by 2032