NGEL-NREDCAP Pact for Energy Push
POWER & RENEWABLE ENERGY

NGEL-NREDCAP Pact for Energy Push

NTPC Green Energy Limited (NGEL), a subsidiary of NTPC, has entered a joint venture with the New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) to propel renewable energy projects in the state. The agreement involves developing 25 GW of renewable energy, producing 0.5 million metric tonne per annum (MMTPA) of green hydrogen and derivatives, and establishing 10 GW of pumped storage projects (PSPs). This collaboration is projected to attract Rs 2 lakh crore in investment and create significant employment opportunities in Andhra Pradesh.

Aligned with NTPC’s strategic goals to expand renewable energy capacity, this initiative aims to bolster Andhra Pradesh’s clean energy infrastructure, a key driver for India’s energy transition and long-term sustainable development.

In parallel, NGEL has partnered with Oil and Natural Gas Corporation (ONGC) to explore offshore wind energy. This joint venture focuses on tapping offshore wind potential while evaluating opportunities to acquire existing renewable energy assets. These initiatives mark pivotal milestones in India’s renewable energy expansion strategy, aligning with national and global transition goals.

IPO Progress To finance its ambitious projects, NGEL launched a Rs 10,000 crore Initial Public Offering (IPO). The offering, priced between Rs 102 and Rs108 per share, achieved 33% subscription on its first day, with retail investors oversubscribing by 1.33 times. The IPO closes on November 22, positioning NGEL to scale up its target of achieving 60 GW renewable energy capacity by FY32.

Renewable Energy Goals NGEL’s focus on green hydrogen and offshore wind energy enhances India’s decarbonization goals, addressing industrial and transport sector needs. The PSPs will stabilize intermittent renewable energy sources like solar and wind, improving grid reliability.

The partnership with NREDCAP and ongoing collaborations underline NGEL’s strategy to leverage public and private investments, accelerating project execution. These efforts contribute toward India’s goal of achieving 500 GW non-fossil fuel capacity by 2030, supporting the nation’s rising energy demands while significantly reducing carbon emissions.

This agreement reinforces India’s leadership in renewable energy, emphasizing innovation, sustainability, and economic growth through green initiatives.

NTPC Green Energy Limited (NGEL), a subsidiary of NTPC, has entered a joint venture with the New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) to propel renewable energy projects in the state. The agreement involves developing 25 GW of renewable energy, producing 0.5 million metric tonne per annum (MMTPA) of green hydrogen and derivatives, and establishing 10 GW of pumped storage projects (PSPs). This collaboration is projected to attract Rs 2 lakh crore in investment and create significant employment opportunities in Andhra Pradesh. Aligned with NTPC’s strategic goals to expand renewable energy capacity, this initiative aims to bolster Andhra Pradesh’s clean energy infrastructure, a key driver for India’s energy transition and long-term sustainable development. In parallel, NGEL has partnered with Oil and Natural Gas Corporation (ONGC) to explore offshore wind energy. This joint venture focuses on tapping offshore wind potential while evaluating opportunities to acquire existing renewable energy assets. These initiatives mark pivotal milestones in India’s renewable energy expansion strategy, aligning with national and global transition goals. IPO Progress To finance its ambitious projects, NGEL launched a Rs 10,000 crore Initial Public Offering (IPO). The offering, priced between Rs 102 and Rs108 per share, achieved 33% subscription on its first day, with retail investors oversubscribing by 1.33 times. The IPO closes on November 22, positioning NGEL to scale up its target of achieving 60 GW renewable energy capacity by FY32. Renewable Energy Goals NGEL’s focus on green hydrogen and offshore wind energy enhances India’s decarbonization goals, addressing industrial and transport sector needs. The PSPs will stabilize intermittent renewable energy sources like solar and wind, improving grid reliability. The partnership with NREDCAP and ongoing collaborations underline NGEL’s strategy to leverage public and private investments, accelerating project execution. These efforts contribute toward India’s goal of achieving 500 GW non-fossil fuel capacity by 2030, supporting the nation’s rising energy demands while significantly reducing carbon emissions. This agreement reinforces India’s leadership in renewable energy, emphasizing innovation, sustainability, and economic growth through green initiatives.

Next Story
Infrastructure Transport

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

Next Story
Infrastructure Urban

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

Next Story
Technology

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?