NTPC Green Energy Ltd (NGEL) has signed an agreement with the Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) for the development of renewable energy parks in the state.
NTPC Green Energy Ltd (NGEL) is a subsidiary of NTPC Ltd.
To collaborate in the development of renewable energy parks and projects and facilitate the government’s efforts towards energy transition, a Memorandum of Understanding (MoU) was signed between NGEL and UPRVUNL on May 31, 2023 at Lucknow, NTPC Ltd said in a statement on Thursday.
The MoU was signed between NGEL CEO Mohit Bhargava and Director Finance Nidhi Kumar Narang UPRVUNL in presence of UPRVUNL MD P Guruprasad and other officials.
As part of the agreement, the companies will set up ground-mounted and floating solar projects in Rihand reservoir and other water bodies and land area and develop renewable energy parks and projects wherever land is made available.
The companies will also develop solar PV project dedicated for solarization of Ayodhya city.
”NGEL and UPRVUNL shall jointly work for formation of Joint Venture Company (JVC) to meet the renewable generation obligation, flexibility in generation and scheduling of thermal/hydro power stations through bundling with renewable energy and energy storage,” the statement said.
NTPC is India’s largest power utility, with a total installed capacity of about 72 GW (including JVs and subsidiaries).
As part of increasing its renewable energy portfolio, a fully-owned subsidiary NGEL has been carved out for renewable energy parks and projects including development in the areas of green hydrogen, energy storage technologies and round the clock RE power.
UPRVUNL was constituted to set up and operate power-generating stations in the state of Uttar Pradesh.
At present UPRVUNL has four thermal power stations within Uttar Pradesh with an installed capacity of 5,820 MW and one thermal power station with installed capacity of 1,320 MW under JV with NTPC.
It is in the process of adding further 3,300 MW capacity with super critical technology on its own and another 1,980 MW in Joint Venture with CPSEs.
UPRVUNL is looking to diversify into renewable energy and energy storage sectors.