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NTPC Green Energy has approved a 50:50 joint venture with GAIL (India) Ltd to develop renewable energy projects, pending regulatory approvals. As a subsidiary of NTPC, NGEL leads the company's green energy initiatives, working through both organic and inorganic methods. This move is part of NTPC's broader plan to reach 60 GW of renewable capacity by FY32. The partnership strengthens India's renewable sector and follows NGEL's ongoing efforts in solar and wind projects, signaling a focused approach to achieving ambitious sustainability and energy transition goals.
State-owned NTPC Green Energy has approved the creation of a 50:50 joint venture with GAIL (India) Ltd to develop renewable energy projects. The company's board sanctioned the Joint Venture Agreement during its meeting, with the formation of the new company subject to approvals from the Ministry of Power, DIPAM, and other relevant statutory authorities. Advertisement
NTPC Green Energy, a subsidiary of the power giant NTPC, oversees the company's green energy initiatives. It drives renewable projects through both organic and inorganic strategies and is positioned as NTPC's lead entity for achieving the ambitious goal of reaching 60 GW in renewable energy capacity by FY32.
The partnership with GAIL marks a significant step in strengthening India's renewable energy landscape, aligning with the government's push for sustainable energy development. NTPC Green Energy has previously undertaken various solar and wind projects, and this collaboration is expected to accelerate progress toward its long-term renewable targets.
Source PTI
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