NTPC Limited, along with its subsidiary NTPC Green Energy Limited (NGEL), has signed multiple memorandums of understanding (MoUs) with the Madhya Pradesh government to develop renewable energy projects, including solar, wind, and pumped hydro storage.
The first MoU, signed between NGEL and Madhya Pradesh Power Generating Company Limited (MPPGCL) aims to set up renewable energy projects up to 20 GW in the state, with an estimated investment of Rs 1,200 billion. This agreement will facilitate the formation of a joint venture company to support the renewable generation obligation for MPPGCL and the renewable purchase obligation of state distribution companies. In another MoU, NTPC Limited and the Madhya Pradesh government have committed to developing other sustainable non-fossil fuel power plants, with a projected investment of Rs 800 billion. The agreement was signed by Madhya Pradesh Power Management Company Limited on behalf of the state government. Additionally, an agreement was finalised between the Madhya Pradesh government and NTPC for an 800 MW pumped hydro storage project, requiring an estimated investment of Rs 40 billion.