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

28 Feb 2025 CW Team

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

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..