NTPC Green Energy Limited (NGEL), a subsidiary of NTPC, has signed a Memorandum of Understanding (MoU) with the Government of Uttar Pradesh for the development of renewable energy and green hydrogen projects. The agreement was finalized on the sidelines of the World Economic Forum Annual Meeting in Davos, Switzerland.
The MoU was signed by Vijay Kiran Anand, IAS, CEO of Invest UP and UPSIDA, and DMR Panda, Executive Director of NTPC Green Energy, in the presence of UP Minister of Finance and Parliamentary Affairs, Suresh Kumar Khanna, and senior officials from both NTPC and the Uttar Pradesh government.
Aggressive Renewable Energy Expansion Across India
This is part of NGEL’s wider strategy to expand renewable energy capacity across India. Last month, NGEL formed a 74.26% joint venture with Chhattisgarh State Power Generation Company to develop 2 GW of renewable energy projects with an investment of around INR 10,000 crore.
Under the enhanced delegation of power granted by the Cabinet Committee on Economic Affairs (CCEA) in July 2025, NTPC can now invest up to INR 20,000 crore in NGEL subsidiaries for renewable energy projects, surpassing the earlier limit of INR 7,500 crore. The company aims to achieve a total renewable energy capacity of 60 GW by 2032.
Strategic Joint Ventures for Green Energy
NGEL has been forming multiple joint ventures to strengthen its renewable energy portfolio:
- Rajasthan: NGEL partnered with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) to form NTPC Rajasthan Green Energy Ltd., developing up to 25 GW renewable energy and 1 million tonnes of green hydrogen capacity.
- Andhra Pradesh: NGEL joined with NREDCAP to form a 50:50 JV for 25 GW solar/wind, 10 GW pumped storage, and 0.5 MMTPA green hydrogen projects.
- Uttar Pradesh: NTPC UP Green Energy Ltd. was formed to develop, operate, and maintain renewable energy parks in the state.
- Madhya Pradesh & Maharashtra: NGEL signed multiple MoUs and formed JVs for solar, wind, and pumped hydro projects totaling over 30 GW, with investments exceeding INR 14 lakh crore.
- Goa: MoU signed with GEDA to develop 300 MW+ renewable energy projects with or without storage.
Focus on Green Hydrogen and High-Capacity Projects
Alongside solar and wind, NGEL is heavily investing in green hydrogen production. The company aims to create large-scale green hydrogen projects to support India’s clean energy transition and reduce dependency on fossil fuels.
YEIDA, Rajasthan, Uttar Pradesh, and Madhya Pradesh are emerging as key hubs for these initiatives, with NGEL leveraging state-backed incentives, fiscal support, and one-stop clearance mechanisms to attract domestic and international investors.
About NTPC Green Energy Limited
NTPC Green Energy Limited (NGEL) is a subsidiary of NTPC Limited, India’s largest energy conglomerate. NGEL focuses on renewable energy, green hydrogen, and sustainable solutions, playing a key role in India’s clean energy transition. The company develops and operates wind, solar, hydro, and hybrid projects, contributing significantly to the country’s renewable energy capacity and climate action goals.
