NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, entered into a memorandum of understanding with PTC India Limited (PTC) on 31 March 2026 to explore opportunities in the sale of renewable energy. The arrangement focuses on assessing bilateral power sale options and the use of other market mechanisms to facilitate trade in renewable energy. Senior officials from both organisations were present at the signing, which formalised the intent to collaborate.

The memorandum of understanding will enable both parties to examine contractual frameworks for the sale and purchase of renewable energy, including long term bilateral contracts and merchant sale models. It will also consider participation in organised markets and ancillary services where applicable, with a view to optimising dispatch and commercial returns. The collaboration is intended to support integration of additional renewable capacity into the grid and to enhance market liquidity.

The agreement was executed by Sarit Maheshwari, chief executive officer of NGEL, and Dr Manoj Kumar Jhawar, chair and managing director of PTC, in the presence of senior executives from both companies. Following the signing, both sides will undertake detailed assessments to identify suitable projects and contractual structures that meet regulatory and commercial criteria. The process is expected to involve technical due diligence, market analysis and alignment on settlement and scheduling arrangements.

Stakeholders indicated that the collaboration is expected to contribute to the development of a more competitive renewable energy market in the country and to the government's energy transition objectives by facilitating predictable offtake and price discovery for renewable generators. The partnership could enable new investment by improving revenue certainty for projects and by supporting innovative contract structures that address variability in supply. Market participants will watch for subsequent announcements on pilot transactions and framework agreements emerging from the joint work programme. Both companies indicated that the MoU provides a platform for continued engagement with market operators and regulators to align procedures and compliance.