NTPC, MP Ink $24 Billion Deal for 20 GW Green Energy
POWER & RENEWABLE ENERGY

NTPC, MP Ink $24 Billion Deal for 20 GW Green Energy

NTPC has signed multiple memorandums of understanding (MoUs) with the Madhya Pradesh government to invest over $24 billion in renewable energy projects, marking a significant step toward India's clean energy transition.

The agreements cover solar, wind, and pumped hydro storage projects aimed at strengthening the state's energy infrastructure while supporting national Net Zero targets.

The first MoU, signed between NTPC Green Energy (NGEL) and Madhya Pradesh Power Generating Company (MPPGCL), will facilitate the development of up to 20 GW of renewable energy capacity. This project, with an investment of approximately $14.4 billion, will help Madhya Pradesh meet its Renewable Generation Obligation (RGO) and Renewable Purchase Obligation (RPO) through a Joint Venture Company (JVC).

A second MoU between NTPC and the Government of Madhya Pradesh, signed via Madhya Pradesh Power Management Company (MPPMCL), will drive further investments of around $9.6 billion into sustainable non-fossil fuel power projects in the state.

Additionally, an agreement was signed to develop an 800 MW pumped hydroelectric storage project with an estimated investment of $480 million.

NTPC, India's largest energy conglomerate, continues to expand its renewable energy footprint. As of December 31, 2024, the Government of India holds a 51.10% stake in the company.

Financially, NTPC reported a 1.8% decline in consolidated net profit to ?50.62 billion in Q3 FY25, compared to ?51.55 billion in the same period last year. However, revenue from operations grew 5.2% YoY to ?450.53 billion.

Following the announcement, NTPC’s stock fell 1.16% to Rs 316.40 on the BSE.

Image Source: Moneycontrol

NTPC has signed multiple memorandums of understanding (MoUs) with the Madhya Pradesh government to invest over $24 billion in renewable energy projects, marking a significant step toward India's clean energy transition. The agreements cover solar, wind, and pumped hydro storage projects aimed at strengthening the state's energy infrastructure while supporting national Net Zero targets. The first MoU, signed between NTPC Green Energy (NGEL) and Madhya Pradesh Power Generating Company (MPPGCL), will facilitate the development of up to 20 GW of renewable energy capacity. This project, with an investment of approximately $14.4 billion, will help Madhya Pradesh meet its Renewable Generation Obligation (RGO) and Renewable Purchase Obligation (RPO) through a Joint Venture Company (JVC). A second MoU between NTPC and the Government of Madhya Pradesh, signed via Madhya Pradesh Power Management Company (MPPMCL), will drive further investments of around $9.6 billion into sustainable non-fossil fuel power projects in the state. Additionally, an agreement was signed to develop an 800 MW pumped hydroelectric storage project with an estimated investment of $480 million. NTPC, India's largest energy conglomerate, continues to expand its renewable energy footprint. As of December 31, 2024, the Government of India holds a 51.10% stake in the company. Financially, NTPC reported a 1.8% decline in consolidated net profit to ?50.62 billion in Q3 FY25, compared to ?51.55 billion in the same period last year. However, revenue from operations grew 5.2% YoY to ?450.53 billion. Following the announcement, NTPC’s stock fell 1.16% to Rs 316.40 on the BSE.Image Source: Moneycontrol

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code