New Delhi: NTPC Green Energy Limited (NGEL), the green energy subsidiary of NTPC Limited, has incorporated a joint venture company along with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) on Tuesday which will focus on developing and operating Renewable Energy (RE) parks. In a regulatory filing to th stock exchanges on Tuesday, NGEL said, “NTPC-MAHAPREIT GREEN ENERGY LIMITED”, has been incorporated on 08.04.2025 as 74:26 joint venture of NTPC Green Energy Limited (NGEL) and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT).”
While NGEL holds 74 percent stake in the joint venture, MAHAPREIT holds the remaining 26 percent. “NTPC-MAHAPREIT Green Energy Limited will be engaged in the business of developing, operating and maintaining Renewable Energy Parks, including UMREPP/ RE Projects, comprising of Solar/Wind/Hybrid with or without Storage up to 10 GW capacities in Maharashtra and any other state in India,” said the regulatory filing.
“Ministry of Power (MOP), Govt. of India vide its letter dated 26.09.2024 forwarded concurrence of DIPAM and NITI Aayog, which conveyed the approval for formation of JVC between NGEL, a subsidiary of NTPC Limited and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT),” said NTPC.