NTPC falls as green subsidiary signs JVA with Maharashtra State Power Generation Company

The company under the JVA will develop GW-scale renewable energy parks and undertake projects of this scale in a phased manner.

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Shares of NTPC fell nearly 1 percent at open on the NSE on February 29, a day after it reported that subsidiary NTPC Green Energy had signed a JVA with the Maharashtra State Power Generation Company (MAHAGENCO). At 9:20 am, the stock was trading at Rs 331.05.

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In an exchange filing, post market hours, NTPC said that its fully owned subsidiary NTPC Green Energy had signed a joint venture agreement with MAHAGENCO for the development of Renewable Energy Parks in the state of Maharashtra.

The company under the JVA will develop GW-scale renewable energy parks and undertake projects of this scale in a phased manner.

Also read: NTPC gets DIPAM nod to list arm NTPC Green Energy to raise Rs 10,000 cr

NTPC has a total installed capacity, including JVs and subsidiaries, of approximately 74 GW. The subsidiary was formed as a part of NTPC’s goal of increasing its renewable energy portfolio. “NTPC Group has ambitious plans of attaining 60 GW of renewable energy capacity by the year 2032. Currently, it has 3.4 GW of installed RE capacity and more than 22 GW under pipeline,” a PIB release noted.

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